Submission statement: Paul Krugman evaluates EU and US economic statistics and believes the decline of the EU relative to the US has been exaggerated and is in part driven by how adjustments are made in the data and how the tech sector in the US affects GDP
He makes an interesting point in showing how California’s productivity growth is dwarfing the rest of the states and makes the case for the EU to try to cultivate a tech sector, not for economic reasons but national security ones. The EU is at the technological frontier and is good at adopting the IT advances made in the US, but maybe the US won’t be so nice forever.
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Submission statement: Paul Krugman evaluates EU and US economic statistics and believes the decline of the EU relative to the US has been exaggerated and is in part driven by how adjustments are made in the data and how the tech sector in the US affects GDP
He makes an interesting point in showing how California’s productivity growth is dwarfing the rest of the states and makes the case for the EU to try to cultivate a tech sector, not for economic reasons but national security ones. The EU is at the technological frontier and is good at adopting the IT advances made in the US, but maybe the US won’t be so nice forever.
!ping ECON