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Riccardo Faini: Europe: a Continent in Decline?

His conclusions:

  1. Once corrected for demographic changes and accounting differences, the growth performance of the Euro nations since 1990 is no worse than that of the United States;

  2. The income gap that still exists between Europe and the US is mostly accounted for by differences in hours worked . . .;

  3. There has been no systematic decline in the competitiveness of European economies . . .

And this:

FT: European Productivity

Are European workers turning into swots? Although the quality of the statistics is notoriously poor, productivity appears to have accelerated significantly. . . .

And, not that this is good news or anything, but what is our culturally-embedded embrace of the rewards of business life buying us?

FT: US productivity growth lowest for decade

The US economy last year recorded its lowest rate of labour productivity growth in more than a decade, with growth in output per hour worked falling behind the EU and Japan. . . .

Gail Fosler, the chief economist of the Conference Board, told the Financial Times that the fall in productivity growth was unlikely to be cyclical and the result of weaker gains in services' industries, raising "concerns about the long-lasting productivity impact of information and communications technology".

by TGeraghty on Wed Jan 24th, 2007 at 01:12:39 PM EST

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