The Pew Research Center recently released an ambitious study tracking the changing fortunes of the middle class in Western Europe and the United States from 1991 to 2010. Among the findings: the American middle class is smaller than Europe’s (and declining), but it nonetheless remains substantially richer than almost any other European country’s...Europe's a nice place to visit, and I might even want to live there awhile--but let's not pretend that it's some economic paradise.
In 2010, for instance, the median household income in Mississippi (in 2011 inflation-adjusted dollars) was $37,838; the equivalent in Maryland was $70,976. By comparison, the average Italian household took home $35,608 that year, while a middle-income Norwegian household earned a median income of $56,960. Put another way: average households in states like Maryland, Connecticut, or Massachusetts are richer than those in Norway, Denmark, or the Netherlands, while residents of Mississippi or West Virginia are better off than the Spaniards and Italians.
Thursday, May 04, 2017
Socialism Is Expensive
If you've traveled to Europe you know that it can be a very expensive place to visit. As far as I'm concerned, the reason for that is socialism is expensive. Then we learn this: