this post was submitted on 19 Jan 2024
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The European Union’s remarkable growth performance relative to the United States (www.bruegel.org)
submitted 10 months ago by [email protected] to c/[email protected]
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The article chooses to take a metric that you usually do not see much: GDP per employee and per hours worked, at purchasing power standards

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[–] [email protected] 0 points 10 months ago (2 children)

So why are Stellantis and VW owning all your car companies if it’s hard to form mega corps?

Unilever own almost everything you can think of in the world and Britain was in the EU.

Nestle.

Etc etc. just because you don’t have a successful tech industry doesn’t mean you don’t have ridiculously large mega corporations

[–] [email protected] 0 points 10 months ago (1 children)

I'm sorry to be that guy but Nestlé is Swiss which is not EU. Not saying that it's any less of a fucked up Megacorp though.

[–] [email protected] 0 points 10 months ago (1 children)

Switzerland applies most of the EU laws because they want access to the single market though, so for this purpose they might as well be in the EU.

[–] [email protected] 0 points 10 months ago

That's not true though. Swiss laws differ wildly from EU laws in so many different fields including the markets. They have been in fights for tens of years over so many different things regarding regulations of the free market etc. you really can not consider Switzerland part of the EU.

[–] [email protected] 0 points 10 months ago

Because the companys at the core (and the sectors they work in) of these megas are comparably ancient compared to technologiy megas. And they started at a time before today's easily accessable global market.

While big tech companies are the startups of just a few decades ago. And there it is immensely beneficial a) to have a big domestic market and then b) to be able to reach a lot of international markets that speak your language without the need for translations (the translations can basically start later for the countries with an already established market to finance it).

For this reason you see a US dominance in tech (big domestic market and the language most internationally understand), then followed by countries like UK (same language), China or (emerging) India (big domestic market).

While new European companies especially in the tech sector basically have no chance unless they develop in foreign english in the first place, and even then they are still at a disadvantadge.