ROBERT MUSIL continues his deconstruction of Guardianista Will Hutton’s critique of the United States economy in relation to Europe’s. Excerpt:

Is the “market share” of companies in compared economic systems a good measure of comparative success? For example, Mr. Hutton compares Nokia with Motorola, suggesting that Nokia is the more successful company: “Nokia’s success is legendary; it has 35% of the world market – twice that of Motorola.” But Motorola’s stock price is essentially where it was a year ago while in the same period Nokia’s stock price has lost about one-half of its value.