“And what’s more, is given the difference in the growth rates between the two economies, the American standard of living is ahead of and pulling away from that of Sweden.”
- You seem to be confusing Scandinavian/Swedish economic growth rates with those of Europe at large.
Sweden has enjoyed much healthier levels of growth than large European countries like France, Italy and Germany the last 15 years.
Presently, the Swedish GDP is growing at a pace well over 4% on an annual basis while the US economy is not.
All the same, the US economy is still looking very good despite the recent slowdown.
Quit changing the subject. Americans make more on an absolute basis and on a purchasing power basis. The US growth rate is greater than that of the Swedish economy. Sweden’s economic situation is declining relative to Europe in general. It also turns out that the government cooks the books by grossly under reporting unemployment. http://www.tmcnet.com/usubmit/2007/05/23/2655462.htm