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That means that there is less reason for Europeans to get off the dole and go back to work -- this has a detrimental impact on productivity.
Protectionism is higher in Europe. Europe averages higher import tariffs and non-tariff barriers in Europe than in the United States. As a result, protected industries from steel to agricultural products have less incentive to move productivity to world levels. (Stokes)
How can "traditional Europe" turn around these disadvantages and increase productivity? Some clues are given by Tony Blair and Margaret Thatcher's policies in Great Britain, and by Nicolas Sarkozy's current campaign for change in France. In both cases, there is a substantial impetus for change. Great Britain reduced top taxes and social welfare benefits in the 1980's, and the country now enjoys higher employment and per capita wages than the other countries studied here.
France has a significant problem with some of the highest government burdens in Europe. Over 50% of GDP goes to the State in the form of direct and indirect taxes. As a result of this high social welfare spending, France is lagging other major countries in productivity growth. Sarkozy is pulling France back from the 35-hour work week, retirement at age 50 for some public workers (transport, coal mining) and attempting to reduce top income tax rates. This will be a wrenching change for France, but the cure should improve the country's overall chances of increasing growth.
Bibliography
Antweiler, W. "Purchasing Power Parity." 2007. UBC. 15 November 2007 http://fx.sauder.ubc.ca/PPP.html.
Economist. Pocket World in Figures. London: Economist, 2008.
Hahn, RW and Litan, RE. "Counting Regulatory Benefits and Costs: Lessons for the U.S. And Europe." AEI Brookings Joint Center for Regulatory Studies (2005): 473-506.
Stokes, B. "Europe Faces Globalization -- II." 18 May 2006. Yale Global. 15 November...
Europe's high social costs benefit those who have a job or are on the dole, but pose significant difficulties to those who are unemployed. The sum of these inefficiencies and higher costs is a permanent penalty against Europeans as compared to Americans. Since Americans today enjoy nearly double the income per capita than Europeans (using the PPP index), this wealth gap could grow even larger.
Graphs and tables are welcome to support your analysis (but you put them as an appendix).
VI. SAMPLE REFERENCE STYLE
Last Name (Year). Book's title. Publisher. City.
Chawla, Louise (1999). Life paths into effective environmental action, the Journal of Environmental Education 31 (1), 15-26.
National Research Council, (1996). National Science Education Standards. Washington, DC, National Academy Press.
Kelley, a.C. And Schmidt, R.M. (1996). "Saving, Dependency and Development," Journal of Population Economics, 9(4):365-386.
Business Week, Year, Vol XX, No.XX. "Article's Title."
Last Name, First Name (Year). "Article's title." Internet site.
VII. DATA and INFORMATION COLLECTION
1. Bureau of Labor Statistics www.bls.gov
2. U.S. Department of Commerce, www.stat-usa.gov
3. World Bank www.worldbank.org
4. Try www.google.com
As GDP growth can be viewed as population x productivity/person
PPP = the equivalent value of goods and services purchased. The Economist ratings are taken as absolute dollars ($36,850 for UK) times the PPP coefficient; in this case,.798, to arrive at the PPP equivalent
Macroeconomics
Bibliography
Antweiler, W. "Purchasing Power Parity." 2007. UBC. 15 November 2007 http://fx.sauder.ubc.ca/PPP.html.
Economist. Pocket World in Figures. London: Economist, 2008.
Hahn, RW and Litan, RE. "Counting Regulatory Benefits and Costs: Lessons for the U.S. And Europe." AEI Brookings Joint Center for Regulatory Studies (2005): 473-506.
Stokes, B. "Europe Faces Globalization -- II." 18 May 2006. Yale Global. 15 November 2007 http://yaleglobal.yale.edu/display.article?id=7432.
Entering a Foreign Market: IndiaIndia is a member of the G20, UN, WHO, and WTO. India has been a member of the G20 since its inception in 1999 and has been an active participant in the work of the group (Banu, 2020). In 2003, India became a member of the UN Security Council, and it has since played a key role in the work of the Council. India is also
Growth Rate Slow model (1992) is an economic tool used to analyze a country economic growth. The principal conclusion of Slow model is that the accumulation of capital could not only account for the growth rate per person. To address the central question of economic growth, it is critical to move beyond the Slow model. Mankiw et al. (1992) incorporate economic tools such as FDI growth rate, trade, inequality, institutional quality
The country has traditionally relied on growing its workforce as a means of increasing its economic capabilities. While Hong Kong has done the same in the past, its policy has diverged at this point. Faced with an influx of labour from the PRC, Hong Kong now faces a situation where it needs to focus on bringing in high-end labour, rather than the unskilled labour that is currently flooding in.
GDP GNI GDP and GNI Discussion: China and Canada The country selected for our analysis is China, a nation that has experienced an apparent increase in the rate of its growth in concurrence with the shifts in the global economy. As free trade has opened China up to a greater number of trade partners and to particular trade partners in much larger proportion such as the United States, a great many indicators
By 1990, Thatcher was presiding over a dichotomy, decaying industrial cities in the north and a well developed southern economy. As a result, she was replace by John Major (Columbia Encyclopaedia, 2004). By 2000, GDP was growing at a faster rate than unemployment, possibly due to the fact that Major had obtained an IRA cease-fire, so that Northern Ireland had at least some respite from draining the economy and culture.
Financial Development and Economic Growth The United States of America has made significant developments with respect to their financial market which in turn has resulted in the form of high economic growth. When we compare the U.S., which has one of the most developed financial markets, to other less developed countries, we find that the United States accumulates capital and grow at a higher rate due to markets being more stable.