What I do not like in these discussions is that there are always a bunch of fellow Europeans, trying to link economic success to economic inequality.
1. Nothing says it has to be this way, and taking the big picture of history in perspective, it definitely is not that way.
2. Inequality comes in many forms. Corporate and financial culture in Europe pretty much says that you are only allowed to be an entrepreneur if you are born in the right (i.e. rich) family. It is a much smaller club. The European corporate culture is also one with a much stronger hierarchy between the workers, the managers and the executives. In Europe, university degrees and other forms of bureaucracy further inhibit career progress. Glass ceilings are much, more prevalent everywhere, many of which would be illegal in the US. The salaries are lower and the taxes much higher. All of these are also forms of inequality. This talk that compares the beggar on the streets with Elon Musk is a bit myopic.
Very good points! I’m born and raised in Sweden. It’s supposedly very egalitarian. But I’ve more and more come to see our social norms as anti-egalitarian in that they prevent equality of opportunity and promote the status quo. Honestly I think American culture is much more egalitarian at its core.
As an European, I have to agree a lot with your vision. I might disagree a bit about the entrepreneurship if you also add in that category small business and self-employed people that does business outside manufacturing and tech, because there are a lot of those works very well and actually make a lot of families to progress economically.
I would make even another point here: At least in Spain, the figure of the "angel investor" or the "venture capitalist" is basically non-existent to normal people who had a good idea. AFAIK most of them only invest in real estate, and those that have some tech investments only invest in projects that are starting to give some benefits, are made by some known person, or have other important investors.
For those who could know more: If this isn't correct, please correct me. Also, I know this could be not applicable to the whole Europe, but I don't know at all how are business outside Spain.
1. Nothing says it has to be this way, and taking the big picture of history in perspective, it definitely is not that way.
2. Inequality comes in many forms. Corporate and financial culture in Europe pretty much says that you are only allowed to be an entrepreneur if you are born in the right (i.e. rich) family. It is a much smaller club. The European corporate culture is also one with a much stronger hierarchy between the workers, the managers and the executives. In Europe, university degrees and other forms of bureaucracy further inhibit career progress. Glass ceilings are much, more prevalent everywhere, many of which would be illegal in the US. The salaries are lower and the taxes much higher. All of these are also forms of inequality. This talk that compares the beggar on the streets with Elon Musk is a bit myopic.