[lbo-talk] The Long March From Yenan to Barclays

Doug Henwood dhenwood at panix.com
Thu Jul 26 14:48:47 PDT 2007


On Jul 26, 2007, at 5:35 PM, dredmond at efn.org wrote:


> According to Eurostat, the EU-27 racked up 11.558 trillion EUR in
> 2006, US
> was about 10.550 trillion EUR, roughly a 10% difference.

The EU-27 is an even less coherent entity than the EU-15, which is less coherent than the euro zone. The U.S. is a single nation-state with a single currency and legal system. There's an almost 10/1 ratio between the PPP per capita GDP of the richest and poorest countries. There's nothing like that with U.S. states. They speak, what, a score of official languages among them? They all watch different TV, read different publications, go to completely different school systems, etc. There's no common military or foreign policy. The comparison of the U.S. to the EU-27 is kind of ridiculous.

Doug



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