That’s a 35% difference! And again, of course the disposable income in Europe is more than adequate, but what about technology? Europe is lagging everywhere : computers, phones, space, IA, etc.
That’s a 35% difference! And again, of course the disposable income in Europe is more than adequate, but what about technology? Europe is lagging everywhere : computers, phones, space, IA, etc.
Sure but Russia still managed to cut its losses. With the amount of sanctions it has to face and the cost of war, Russia should have crumbled by now, but thanks to their original low debt they managed to save their economy (at least in appearance). They may get their reckoning but their investment policy helped them resist the huge pressure the Western World put on them. Sure, they are only buying time, but imagine what Europe would do with that kind of ballsy investment policy.
Mean and median household income is also much higher, and disposable income (so after taxes, housing and insurance) is also higher.
But that’s beyond the point. GDP maybe a catch-all indicator and not a measure of quality of life, but it is also the result of the American supremacy over science and technology.
The US has always attracted the brightest minds of the world with its huge salaries and colossal investments in R&D, and continues to do so while Europe shows no signs of catching-up. If the EU wants to keep the way of life it provides its citizens and stay relevant on the international stage, it has to rise-up to the challenge. It lost the tech race and now it is losing IA race.
In my opinion we should see beyond national investments: there should be more European funds for more European projets. It was strong 20 years ago but lately many projets fail or lag behind.