Perspective
Joshua Foust on Apr 01 2008 at 7:19 am | Filed under: Around the Web, Economics
Germany is optimistic it has reduced its unemployment to 3.5 million. According to the Bureau of Labor Statistics, U.S. unemployment is down in February to around 7.3 million.
For comparison’s sake, Germany has around 82 million people. The U.S. has around 300 million people. Yet it is in the U.S. that we are speaking of a horrible recession, not Germany—when Germany considers it a great victory to have only double our unemployment. I may be economically illiterate, but it seems that in this country, we are sorely lacking in perspective.
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Well, if your comparison is to Europe then…Oh wait, many people do compare us to Europe and think we should become more like them.
Yeah, that is a good point.
We pull off an attempt to recreate the great depression with our lax regulation and free market dogmatism and we still have lower unemployment. Worse, despite all of the talk of the problems with “anglo-saxon” economics and policy, Europe seems to have still participated in the financial crisis.