Reblogging for future reference. Be sure to read to the end (not the video, but the parts about the pro-market European countries).
But he’s also wrong. That’s because he thinks that Europe is a role model to emulate rather than a warning signal of mistakes to avoid. Needless to say, that’s borderline crazy.
Heck, even President Obama has pointed out that the United States out-performs our European counterparts.
In his Washington Post column, Robert Samuelson warns that it would be a mistake to follow the European model of more taxes and additional regulation. He starts with (what should be) an obvious point about businesses responding to incentives.
We can learn from Europe about job creation, but many Americans may reject the underlying lesson. It is: If you price labor too high — pay workers more than they produce — businesses will slow or stop hiring.
He then points out that bad incentives in Europe are leading to…
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