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Why the „Europe is falling behind“ narrative is just bullshit. The American economist and Nobel prize winner Paul Krugman shared a great piece on this.

„America has faster growth measured in base-year prices, but the relative size of the economies measured at PPP doesn’t change[…]When comparing the US and the EU, uncritical use of real GDP numbers can lead to the conclusion that Europe is getting poorer relative to America. But it isn’t.“