On the eve of the American election, François Lenglet is interested in a crucial question of the campaign, that of the economy.
If you look closely, on this level, America is doing much better than Europe.
America is the star of global growth. And this does not date from Joe Biden. Since 2010, the wealth of the United States has increased by 37%, while it is only +20% for the euro zone. Hence this considerable difference in economic standard of living: an American produces for $81,000 per year, while a European makes do with $45,000 per year.
At the root of the big gap, there is of course demographics. Immigration in particular, more dynamic and above all more qualified than in Europe. There is also the price of energy, two to three times lower across the Atlantic, thanks to oil and gas deposits. Deposits that the United States exploit massively, ignoring climatic constraints.
The Americans, more numerous, work more hours than us
But the United States also has two other assets. First the work. Americans are more numerous than us, in proportion, at work, and work more hours: 1800 hours per year, compared to 1570 in Europe.
The other difference is lower taxation, favorable to economic activity. With a trade-off: fewer taxes means less redistribution, therefore more inequality. Would the Europeans be ready for it?
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