Western Europe's economic, tax, regulatory, and social welfare systems are a positive and negative, depending on who you ask.
Compared to the US, only a small segment of the population is either very poor or very rich. Everyone is basically lower- to upper-middle class.
But there's a price to that large safety net. The above policies create a disincentive to innovate and build wealth - the reason behind the stagnant you mentioned.
America: the sky is the limit.
Western Europe: lower-middle class is the ground floor.
Western Europe's economic, tax, regulatory, and social welfare systems are a positive and negative, depending on who you ask.
Compared to the US, only a small segment of the population is either very poor or very rich. Everyone is basically lower- to upper-middle class.
But there's a price to that large safety net. The above policies create a disincentive to innovate and build wealth - the reason behind the stagnant you mentioned.
America: the sky is the limit. Western Europe: lower-middle class is the ground floor.