Wisdom from The Action Wisdom In Action

This Just In: If We Europeanize, Europe is in Trouble

From the National Review Online.

"We can’t become Europe unless someone else is willing to become America.

Look at it this way. My seven-year-old daughter has a great lifestyle. She has all of her clothes and food bought for her. She goes on great vacations. She has plenty of leisure time. A day doesn’t go by where I don’t look at her and feel envious of how good she’s got it compared to me. But here’s the problem: If I decide to live like her, who’s going to take my place?

Europe is a free-rider. It can only afford to be Europe because we can afford to be America."

...

"If America Europeanizes, who’s going to protect Europe? Who’s going to keep the sea lanes open? Who’s going to contain Iran — China? Okay, maybe. But then who’s going to contain China?

But that’s not the only way in which Europeans are free-riders. America invents a lot of stuff. When was the last time you used a Portuguese electronic device? How often does Europe come out with a breakthrough drug? Not often, and when they do, it’s usually because companies like Novartis and GlaxoSmithKline increasingly conduct their research here. Indeed, the top five U.S. hospitals conduct more clinical trials than all the hospitals in any other single country combined. We nearly monopolize the Nobel Prize in medicine, and we create stuff at a rate Europe hasn’t seen since da Vinci was in his workshop.

If America truly Europeanized, where would the innovations come from?"

...

"Americans are an innovative, economically driven people. That’s true. But so were the Europeans — once. Then they adopted the policies they have today and that liberals want us to have tomorrow."

Posted by Cute at 8:28 PM

Labels: economy, financial (non-tax), politics, social issues, taxes