Monday, January 11, 2010

Krugman vs. Mankiw

Paul Krugman: "Actually, Europe’s economic success should be obvious even without statistics...In any case, the statistics confirm what the eyes see."

Greg Mankiw essentially responds, oh really?
Here is GDP per capita, adjusted for differences in price levels (PPP), from the IMF, for the United States and the most populous countries in Western Europe:

United States 47,440
United Kingdom 36,358
Germany 35,539
France 34,205
Italy 30,631
Spain 30,589
This is a point I have made before.

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