Re:Jack Ma fell to earth and took Ant's mega IPO with him
by triceratops on Friday November 06, 2020 @02:32PM
(#25010397)
Sounds like France is getting the better end of the bargain.
Re:Jack Ma fell to earth and took Ant's mega IPO with him
by ArnoVW on Friday November 06, 2020 @05:25PM
(#25011740)
And that does not even take into account rate of endebtment. Nor the fact that the US has several historical advantages, like the role of the dollar, or the fact that they emerged out of WW II with 'only' 250k dead and their economy and infrastructures intact.
This is terrible to say, but you have to (my belief) basically wait for that older generation to die and the newer one to mature to undo the effects of that regime.
There is a crazy game theory degradation when you lose trust and corruption rises. It’s hard to convey just how insidious and broken such a society is. And this is communism, not socialism which appears to be fine based on Western European experience.
One of Mitt Romney’s coworkers at Bain wrote a book a few years ago and France is actually more productive than America and has grown faster, as measured on GDP dollars per capita per hour. Aka they are more productive. Yet USA works like 2100 hours per year and France is closer to 1700, which is why you have the GDP per capita differential.
End of the day, institutions matter.