Is that unique to America? I'm in EU, I thought we had free markets too.
> The more free market a country is, the more it prospers.
Some countries, including the US, reached prosperity by protecting their markets.
Afaik the EU is regulated much more heavily in that area than the US, like here in Australia.
It makes sense to me that some amount of the US’ economic advantage comes from their ability to more efficiently match employees with the work currently demanded by the market.
Significantly less free than in the US, and correspondingly less prosperity.
> Some countries, including the US, reached prosperity by protecting their markets.
Not true. If it was true, N Korea would be massively prosperous.
Which measures of freedom became restricted in the EU following the GFC that led to the prosperity of the EU diverging from the US?
Free markets are chaotic, and are constantly reallocating resources from less efficient uses to more efficient uses.
Regulations that impede that make for lower prosperity.
How does your theory account for this?
Protecting markets is done with tariffs. Are you sure you want to assert that tariffs are good for the economy?
The unique thing was that they then created another, less broadly shared, kind of prosperity by eliminating those protections and offshoring those industries, and focusing instead on dollar diplomacy.