The Right Coast
December 30, 2004
The World's Greatest Economy
By Mike Rappaport
The Wall Street Journal tries to introduce some perspective on the American Economy:
It becomes tedious to hear the "sluggish" mantra mindlessly repeated in the media, when the most cursory comparative analysis shows the U.S. economy performing robustly by international and historical standards. That's especially so when the same folks who carp about a supposedly sluggish U.S. economy advise us to adopt European-style labor regulations, tax rates and environmental standards, and to expand the government's reach into health care. At least in Europe there's a broad recognition that consistently low growth is the price to be paid for lavish social benefits.