“There’s something revealing in the fact that European society has birthrates so low. It suggests that Europe lacks a sense of opportunity for a rewarding, challenging, fulfilling life. Emigration is another sign. You can see the stultifying economy on the faces of young people in Europe, many of whom would dearly like to get out—to Silicon Valley or Shanghai or Singapore. The system on the continent fails to provide the opportunity for rewarding lives.”
— Edmund S. Phelps, Economic Justice and the Spirit of Innovation | Edmund Phelps
Tagged: Communitarian-Corporatist Systems vs. Capitalism, Western Europe, America, Innovative Societies, emigration, Communism Vs. Capitalism
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Economic Justice and the Spirit of Innovation | Edmund Phelps firstthings.com

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