Utopia, you are standing in it!

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Figure 1 shows stark differences between Sweden, France, Italy and the UK since 1970 in departures from trend growth rates of 1.9% in real GDP per working age person, PPP. Italy did quite OK until 2000 growing at about the trend growth rate of 1.9% after which it fell into a hole so deep that it barely notice the onset of the global financial crisis. Sweden really had been the sick man of Europe until it turned its back on high taxing, welfare state socialism in the early 1990s. France has been in a long decline so much so that the global financial crisis is hard to pick up in the acceleration in its long decline in the mid-1990s. Figure 1 also shows Britain did very well, both under the neoliberal horrors of Thatcherism and the betrayals by Tony Blair of a true Labour Party platform. The UK grew at above the trend annual growth to 1.9% for most of the period from the early 1980s to 2007. The UK has done not so well since the onset of the global financial crisis.

Figure 1: Real GDP per Swede, French, British and Italian aged 15-64, 2014 US$ (converted to 2014 price level with updated 2011 PPPs), 1.9 per cent detrended, 1970-2013

Source: Computed from OECD StatExtract and The Conference Board. 2015. The Conference Board Total Economy Database™, May 2015, http://www.conference-board.org/data/economydatabase/

Note: When the line is flat, the economy is growing at its trend annual growth rate. A falling line means below trend annual growth; a rising line means of above trend annual growth. Detrended with values used by Edward Prescott.

German data was not in figure 1 because German unification threw all of its data into disarray for long-term comparison purposes.

Advertisements

2 thoughts on “Swedosclerosis, Eurosclerosis and the British disease compared

  1. Jim Rose says:

    Reblogged this on Utopia – you are standing in it! and commented:

    Like

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

The Honest Broker

Making Sense of Science in Policy and Politics

The DALE YEAGER Blog

A Forensic Profiler Explains the World

PA Pundits - International

"the relentless pursuit of common sense" A Variety of Opinions From Various Writers

Survey Anon's Gender Blog

discussing formal and, more often, informal studies of gender feelings

Jason Collins blog

Behavioural economics. Behavioural and data science. Economics. Evolutionary biology.

One Sock: Heather Roy's Blog

A blog for my thoughts and writings - past, present and future

Friends of Science Calgary

The Sun is the main driver of climate change. Not you. Not carbon dioxide.

Visualize This

data visualization goulash

James Kennedy

VCE Chemistry teacher in Melbourne, Australia

The History of Parliament

Blogging on parliament, politics and people, from the History of Parliament

longandvariable

A blog on macroeconomics and public policy by Tony Yates.

Gender Abolitionist

Examining Gender Identity ideology and its impact on Women's Sex based protections. Exploring how this has taken such firm root in Western societies (Cognitive & Regulatory Capture).

The Skeptical Doctor

Dedicated to the work of Theodore Dalrymple

Books & Boots

reflections on books and art

Legal History Miscellany

Posts on the History of Law, Crime, and Justice

English Legal History

Making English Legal History easy and enjoyable to digest.

Right From Yaad

A view from "the Right", as a source of ideas to create a new vision of freedom and what it promises for Jamaicans, to counter the tyranny of the status quo of Jamaica's reality since 1962.

TERF is a slur

Documenting the abuse, harassment and misogyny of transgender identity politics

No Punches Pulled

Laughter – the best medicine

The Dangerous Economist

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Sex, Drugs and Economics

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

Economic Growth in History

Nuno Palma's economic and political history blog

The Logical Place

Tim Harding's writings on rationality, informal logic and skepticism

RGS History

The Newcastle RGS History blog

Nick Cohen: Writing from London

Journalism from London.

4thWaveNow

A community of parents & others questioning the medicalization of gender-atypical youth

Women Are Human

Independent source for the top stories in worldwide gender identity news

Trans Crime UK

Documenting crimes committed by transgender individuals in the UK

Flip Chart Fairy Tales

Business Bullshit, Corporate Crap and other stuff from the World of Work

The Long Run

the EHS blog

Sir John Cowperthwaite

Celebrating humanity's flourishing through the spread of capitalism and the rule of law

The Undercover Historian

Beatrice Cherrier's blog

Vincent Geloso

Economics, History, Lots of Data and French Stuff

Climatism

Tracking Anthropogenic Climate Alarmism

MasterResource

A free-market energy blog

Science Matters

Reading between the lines, and underneath the hype.

Point of Order

Politics and the economy

Coase to Coase AM

Writing on Economics

%d bloggers like this: