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Article Review 1 - right there next to us being just as...

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Neal Bateman January 23, 2010 ECON 202 Article Review 1 I have never been one to really follow economics until these last five months, mainly because of the classes I have taken, and so it has been relativtly difficult for me to really understand the concepts that have been brought not only to the classroom and surrounding area but to our nation and the world as a whole. In this article, “Paul Krugman: U.S. could learn from Europe's social democracy” Krugman argues that our country can gain knowledge of how to run better by looking outside our borders. Sure the United States real GDP has developed faster than the United Kingdom’s but it that only explained population growth if one is to look at the actual standard of living the United Kingdom is neck and neck with the U.S. From here the column takes off comparing Europe to the United States, in the department of technology, jobs, and production. Technologically the U.S. has an edge but broadband is more widely spread and cheaper. Jobs and production the U.S. again is a little ahead but Europe is
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Unformatted text preview: right there next to us being just as productive in few hours and working longer when those of the U.S. retire. But we’re Americans! There couldn’t be any better place than our own nation! Look at Europe’s taxes in compared to ours: according to GDP it ranges from 36 to 44 percent where the U.S.’s is at 28 percent. It could be argued the Europe is the better economy or that the United States is the better economy but honestly in my own opinion it stands the same. Both are so close in dynamics and statistics I guess the main factor of whether or not you would live here within the states would be taxes. As Krugman says, “the belief that even modestly higher taxes on the rich and benefits for the less-well-off would drastically undermine incentives to work, invest and innovate.” Personally Europe sounds like a much better place to me, but I could be biases because I have never traveled there before....
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