In response to:

Why Do Swedes in America Earn Far More than Swedes in Sweden?

Tacitus X Wrote: Sep 14, 2012 6:43 AM
What do you suppose billionaires' money is doing? Do you imagine billionaires are sitting naked in underground bunkers counting their hoards of gold coins? As Sowell has pointed out, the people at the top are an ever-changing group, and accumulated wealth is largely a function of age.
Chris from Kalifornia Wrote: Sep 14, 2012 6:49 AM
Most seem to think of the superrich being like Scrooge McDuck and actually having a large vault or several large vaults filled with coins and gold, jewels and stacks of dollar bills.

In my travels through Europe, I often wind up debating whether policy is better in the United States or Europe. I generally try to explain that this is the wrong comparison, both because Europe is not a monolithic bloc and also because most individual nations have both good policies and bad policies.

But sometimes you have to use blunt comparisons, which is why this data on living standards is powerful evidence that Europe is paying a high price for excessive government.

When I cite such data, proponents of statism often respond by arguing that I’m being unfair by lumping together...

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