Europe falls behind...

Walt Williams looks at how Europe is doing....not surprisingly, not too well.

....New America Foundation senior fellow Joel Kotkin's findings in "America Still Beckons," published by The American Enterprise magazine (October-December 2005). Kotkin says that Europe has weakened considerably. "Since the 1970s, America has created some 57 million new jobs, compared to just 4 million in Europe (with most of those in government). For the last quarter century, the United States has enjoyed consistently higher rates of economic growth and productivity than European countries, and the gap has been widening. The United States is now at the forefront in many critical global industries, particularly finance, technology, and entertainment." Europe's "portion of world GDP dropped from 34 percent to 20 percent between 1913 and 1998, while the United States held its own at about 22 percent of global GDP."