A widening transatlantic gap is inspiring glee in the US and angst in Europe. Though their per capita income levels were similar a couple of decades ago, growth (in constant dollars) has been twice as fast since 2010 in the US than in Britain and the EU’s big four economies: Germany, France, Italy and Spain.
Why is Europe falling behind? Look at the role of government.
Ruchir SharmaWriter and investorRuchir Sharma is a writer and investor, and the author of four books, including most recently "The 10 Rules of Successful Nations". He is chairman of Rockefeller International.
