PARIS — In the three decades after World War II, Western Europe caught up with the United States in terms of per capita gross domestic product (GDP). But since the mid-1990s, this trend has reversed, with the US growing twice as fast as Europe.
PARIS — In the three decades after World War II, Western Europe caught up with the United States in terms of per capita gross domestic product . But since the mid-1990s, this trend has reversed, with the US growing twice as fast as Europe .What happened? The explanation is simple: During the Trente Glorieuses , Western Europe an policies favored a model of growth based on imitation and accumulation.
As is well-known, the EU is a regulatory giant, but a budgetary dwarf . Given the scale of today's challenges, which require economy-wide green and digital transitions, this is a huge handicap.Moreover, as far as public institutions are concerned, nothing in Europe resembles America's Advanced Research Project Agencies .
Europe Create An Innovation Economy?
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