PROFILES OF THE FUTURE: A Quick Look at the 21st Century So Far.
If you add to this the European Union’s obsession with the environment, which has become little more than a machinery for imposing constraints, vexations, punishments and taxes in the name of “energy transition”, it appears that stagnation is a problem from which Europe might have the greatest difficulty in freeing itself.
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Then there is the American system, which constantly seems to test its own limits. There are countless problems in the United States, such as immigration, which has sadly become as lawless in the US as it is in Europe There is defunding the police, which, not surprisingly, has added to the anarchy. The political divisions that race-baiters have whipped up are such that rather than help minorities, such as improving K-12 education, there have just been increasing episodes of violence and an increasing number of cities with massive drug problems.
America, however, is also prosperous; formidably innovative, at the head of the most dazzling military concentration ever assembled, and structurally capable of managing economic and financial crises better than its competitors. Why? For a simple reason: flexibility. In many American states, you can hire and fire without cause, with just a few days’ notice. As soon as a company expands, it can hire on a massive scale in order to grow because it knows that if it hits hard times, it can also lay off people just as fast. A company is a rational entity.
If there is a single element of the American system that Europe should replicate, it is this flexibility in the labor market.
Will that never happen? No, of course not. That is why Europe will continue to stagnate, while America, despite all its current difficulties, opens up the way of the future.
If the economic and geopolitical facts examined here are anything to go by, the 21st century will be more American than ever.
And yet curiously, America’s left have been in search of stagnation for over half a century, in part because of their fear of a dynamic labor market and bottom-up growth: Welcome Back My Friends, to the Malaise That Never Ends.