Macro-economy shows that EU is doing wrong as US companies outperform EU companies.
Wealth/power concentration isn't due to capitalism but due to human nature and society scale.
Even if success greatest factor is luck it still requires merit. By punishing success you're punishing people that put money into savings, that attempt to innovate and improve human society, that invest in promising areas. In the long term society will be stagnant. And I doubt that in the short term society will be more equal because forced distribution of wealth historically increases inequality.
Maybe companies, but they are not what should matter. As far as know the amount of poor people in the usa is also way higher than in Europe. If we take that into account i'd say that Europe is doing just fine.
> As far as know the amount of poor people in the usa is also way higher than in Europe. If we take that into account i'd say that Europe is doing just fine.
That's all included in the article, which admittedly is behind a paywall. He goes into great detail, including purchasing power parity, means vs medians, etc.
And the conclusion is the US generates more wealth for the middle class than Europe does.
Wasn't it just last year that the richest man and the richest woman in the world were both French? A statement at "Europe" level is far too generic, especially when it comes to economic policies or quality of life. Europe includes both Norway and Moldova and the variance in the quality of life is much higher than Massachusetts vs Mississippi.
I'm not North American, the intention wasn't to polarize. I don't know what to answer. It feels like you don't like to have your beliefs questioned, so no point in talking.
I am sorry about that. please question my beliefs! I am just a bit in doubt on what belief you question?
you can derive from my statements that I don't think the current landscape in the US is entirely meritocraric or democratic as a single person can amass serious influence by investing in the stock market.
you respond that at least the US is richer than the EU, which is probably right. But I don't understand what belief it challenges? That it should justify a less democratic or meritocratic system?
Even if success greatest factor is luck it still requires merit. By punishing success you're punishing people that put money into savings, that attempt to innovate and improve human society, that invest in promising areas. In the long term society will be stagnant. And I doubt that in the short term society will be more equal because forced distribution of wealth historically increases inequality.