How Socialist Europe Is Crushing the United States

It was no doubt painful for the Economist when it half-conceded, a couple of issues ago, that maybe the French economy is doing something right. The French! Somewhere between the socialized medicine and the runaway state planning, they managed to create a series of automatic stabilizers that kept unemployment from shooting through the roof and demand from the falling through the floor. This led to a hearty round of round of soul-searching about various European models waxing as the Anglo-Saxon model wanes.

Somewhat along those lines, I see via the Center for Economic and Policy Research that new comparative unemployment data is available, and America now has higher unemployment than the EU-15. Fancy graph:

600 unemployment in US and EU.jpg

My first thought after looking at this graph was that it couldn't be population adjusted. (The average unemployment rate among 15 European countries would look very different from the unemployment rate in Europe.) But it is.

My second thought was that this would look different if you took all 27 EU countries into consideration, and not just the 15. But I went back to the source data and found that I was pretty much wrong about that too. The unemployment rate across the EU is 8.3%.

Presented by

Conor Clarke is the editor, with Michael Kinsley, of Creative Capitalism. He was previously a fellow at The Atlantic and an editor at The Guardian. More

Conor Clarke is the editor, with Michael Kinsley, of Creative Capitalism, an economics blog that was recently published in book form by Simon and Schuster. He was previously a fellow at The Atlantic and an editor at The Guardian. He is also on Twitter.

Saving the Bees

Honeybees contribute more than $15 billion to the U.S. economy. A short documentary considers how desperate beekeepers are trying to keep their hives alive.

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register.

blog comments powered by Disqus


How to Cook Spaghetti Squash (and Why)

Cooking for yourself is one of the surest ways to eat well.


Before Tinder, a Tree

Looking for your soulmate? Write a letter to the "Bridegroom's Oak" in Germany.


The Health Benefits of Going Outside

People spend too much time indoors. One solution: ecotherapy.


Where High Tech Meets the 1950s

Why did Green Bank, West Virginia, ban wireless signals? For science.


Yes, Quidditch Is Real

How J.K. Rowling's magical sport spread from Hogwarts to college campuses


Would You Live in a Treehouse?

A treehouse can be an ideal office space, vacation rental, and way of reconnecting with your youth.

More in Politics

Just In