Source: Isonomia Quarterly
by Fabio Masini & Albertina Nania
“According to an alarming article published in The Economist in October 2023: ‘the EU economy is now 65% the size of America’s in dollar terms, down from 90% just ten years ago’ although ‘productivity has grown faster in Western Europe than in America.’ Apparently, productivity cannot be blamed for this widening gap: a study made in 2023 by Bruegel’s senior fellow Zsolt Darvas, based on IMF World Outlook data, found that ‘the EU has outperformed the US on per-capita output growth.’ Why then such a gap?” (06/17/25)