„Higher pay for U.S. executives is another draw. Peter Jackson, the chief executive of Flutter, which owns the betting platform FanDuel, nearly tripled his compensation after the gambling company moved its main stock listing to New York last year from London.“
The article seems to roughly match the headline - I don't know why we're sourcing the WSJ to comment on Europe's policy with ideas like "emergency" or "wake up call"s. The Europeans are the ones with the opinions that matter on this one, presumably they think this is all acceptable given that they've been heading in this direction for a decade (if not decades), cheerfully willing to bear the consequences of being less business-friendly than the States (to say nothing of China). I'm not even sure we can call this unintended consequences - there seems to be some acceptance that Europe is going to be #3 when it comes to raw economic power.
I can make a forecast - anyone outside the US who lets their policy positions be swayed by the US press is heading for a disaster. Even if the Americans turn out to be accurate in their opinions. Countries need to maintain their own internal dialogue.
It'd be more interesting to be looking at what the British, or even the Germans and French think about the situation. They're the ones with the levers.
I feel that our priorities have been on social/climate issues. For a very long time the feeling was that we had enough prosperity and that more was nice but that it was not as important.
There was some serious talk about "de-growth" and the trend (for some groups) was mostly towards working less but maintaining the same standard. Among left political circles it seemed that the focus was on doing the most good, for the most people and this focus often lay outside of Europe. To put this in a historical context, many Europeans (especially Germans) feel that we have historical sins to atone for.
We trusted the US and were happy to see them succeed. To a lesser degree we trusted China and Russia and we figured that they would make (economical) rational choices to codependency was seen as a strength and not a weakness.
It's very clear that we were in some degrees naïve and lazy and wasted opportunities and choices. Europe occasionally needs a good crisis to get going again, I'm glad we're finally getting one.
Stephen Kotkin, the historian, made a podcast comment that the US share of global GDP has remained about the same over time, regardless of politics/policy/crisis.
We Americans love our economic growth, for better and worse.
I used to manage software teams in Europe, Russia, North America and China/Taiwan. Quality of life seemed best in Europe, Asia seemed best for the young, and the US was the most business aggressive. I liked the Canadians. California climate (and innovation) can't be beat.
You did the same dumb canada did, assuming usa would be happy forever taking care of the world while you focused on luxury beliefs. We are all paying now that usa finally figured out the arrangment was too costly given the impending doom of the ussr existing was gone. It makes me aad thinking about where we migjt be now if we had focused on actual progress rather than luxury beliefs. Chance is strongly non zero we would have developed the tech to solve our climate issues for example.
This seems entirely sensible to me. If I was offered the choice between doubling my salary or keeping the same one but halving my days worked in a year I wouldn't consider the former for more than about half a second.
I don't think everyone is OK with declining economic power,but rather is too comfortable and helpless at the same time to actually change something.
I think outside perspective is actually useful, because internal dialogue often goes rounds like should do something -> can't do anything -> football -> should do something
No non competes are there in some countries (not sure how many but at least where I had companies, they are not worth the paper they are written on as they don't hold up). And bankruptcy, again where I have had companies, is not really a big issue if you didn't do illegal stuff. You mostly have to show your accounting is proper and you didn't do anything bad. Really not that complex. People do still put a stigma on it; I had 20 companies, 3 bankruptcies, 10000+ jobs made, 100m+ in taxes paid and still people whine about the bankruptcies; but it is not hard to execute. What makes the US easier outside less stigma?
Having tried myself in the EU; access to capital. People as far as I can remember there's something between 5-50x as much capital going around in America. For industries outside of strict software, you NEED capital to get going. Can't bootstrap medical trials.
'“The wealth creation will happen to Texas teachers and California public-sector employees, not to European pensioners,” said Stephan Leithner, CEO of Deutsche Börse, operator of the Frankfurt Stock Exchange.'
what's not spoken about is the moral posturing of western countries the uk/e.u etc that has affected their global markets.
without their moral posturing - dubai wouldn't exist.in 3rd world countries a while back in the 90s companies would dual-list on their home exchange and the LSE. win-win. back then visas were not difficult to get etc or you could travel visa free if part of commonwealth.
now the shaddy business dealers would rather prefer dubai were they're not lectured about the moral failures of their business practices or who they associate with.
trump for all his failures was able to recognize this - hence one of his first trips was to the GCC.
Readit News
Well, I think we solved the riddle …
I can make a forecast - anyone outside the US who lets their policy positions be swayed by the US press is heading for a disaster. Even if the Americans turn out to be accurate in their opinions. Countries need to maintain their own internal dialogue.
It'd be more interesting to be looking at what the British, or even the Germans and French think about the situation. They're the ones with the levers.
I feel that our priorities have been on social/climate issues. For a very long time the feeling was that we had enough prosperity and that more was nice but that it was not as important.
There was some serious talk about "de-growth" and the trend (for some groups) was mostly towards working less but maintaining the same standard. Among left political circles it seemed that the focus was on doing the most good, for the most people and this focus often lay outside of Europe. To put this in a historical context, many Europeans (especially Germans) feel that we have historical sins to atone for.
We trusted the US and were happy to see them succeed. To a lesser degree we trusted China and Russia and we figured that they would make (economical) rational choices to codependency was seen as a strength and not a weakness.
It's very clear that we were in some degrees naïve and lazy and wasted opportunities and choices. Europe occasionally needs a good crisis to get going again, I'm glad we're finally getting one.
We Americans love our economic growth, for better and worse.
I used to manage software teams in Europe, Russia, North America and China/Taiwan. Quality of life seemed best in Europe, Asia seemed best for the young, and the US was the most business aggressive. I liked the Canadians. California climate (and innovation) can't be beat.
In my next life, I will figure out what's best...
In the Netherlands we try to compete globally but as long as we’re rich enough people focus more on free time.
As our income grew the past decades the Dutch have cut back on working hours in stead of just hoarding more money.
The average Dutch person now works 400 hours per year less than the average American.
More than 50% of us now work a 4 day workweek and this will probably be made official before 2035 if I had to guess.
People just dont care enough to become even richer.
And though I am considered a workaholic by family and friends I too enjoy my 16 weeks paid time off this year with my newborn. :)
I think outside perspective is actually useful, because internal dialogue often goes rounds like should do something -> can't do anything -> football -> should do something
Bankruptcy clemency is one of those key advantages the US has to really enable entrepreneurship. Another one in California is no non-competes.
As an American I want to see the EU be economically vibrant!
Well, ok.
without their moral posturing - dubai wouldn't exist.in 3rd world countries a while back in the 90s companies would dual-list on their home exchange and the LSE. win-win. back then visas were not difficult to get etc or you could travel visa free if part of commonwealth.
now the shaddy business dealers would rather prefer dubai were they're not lectured about the moral failures of their business practices or who they associate with.
trump for all his failures was able to recognize this - hence one of his first trips was to the GCC.