Latest news with #Despotism

Wall Street Journal

Al Gore Helped the U.S. Surpass Europe

In the spirit of Bastille Day on July 14, it's a good time to ask: What's wrong with Europe? In 1790, France's Marquis de Lafayette gave George Washington the key to the Bastille prison—still displayed at Mt. Vernon—symbolizing a 'token of victory by Liberty over Despotism.' Europe needs the key back. In 2008, the U.S. and Eurozone economies were about the same size. Since 2010, Europe's per capita gross domestic product has basically flatlined. Today, the U.S. nominal GDP per capita is almost twice as large as Europe's. Why? Recently, this paper ran side-by-side headlines: 'EU Moves to Extend Climate Goals' and 'Eurozone Joblessness Reached 6.3% in May.' (It's 4.1% in the U.S.) As the Romans used to say: Causae et effectus.