> Christine Lagarde has chosen to issue an extraordinarily vivid warning: Europe’s social models are utterly unsustainable.
This was known since decades. Even before the common Euro currency was introduced. I remember chinese economists (and China ain't exactly a pro-freedom, 100% capitalist country) making fun of europeans explaining that their wellfare states were totally unsustainable.
These social(ist) models are built on creating ever more debt to grow ever bigger, ever more inefficient, public services.
It is coming to an end. And no amount of state-bred, state-fed, state-raised, state-loving Piketty economists coming up with ultra-simplistic formulas while being paid by the money won by others are going to change that.
Has there ever been one country where socialism didn't grow too big of a government and, eventually, "run out of the money of others"? (I think it's Tatcher who used that phrasing)
I'm from the EU and we have zero mag 7. No StarLink. No SpaceX. From 2008 to 2023 the US economy grew by 50%. The EU? I don't even want to know.
It's a mindset and with that mindset we're fading into complete and total irrelevancy.
SpaceX and StarLink are hardly signs of progress. They are just signs of the extremely wealthy finding new frontiers to boldly exploit while healthcare, shelter, and food are still problems that could be solved but are not. Furthermore, the effects of our economic growth in the US have not ensured a better life for its citizen
So I would suggest article about this kind of topic is viewed as such.