
The Political Orphanage Why Europe is Poorer than America
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Sep 24, 2025 In this discussion, Sam Bowman, Editor at Works in Progress and former executive director at the Adam Smith Institute, delves into why Europe’s economic performance lags behind the United States. He argues that Europe's issues are largely self-inflicted, covering everything from rigid labor laws to a lack of venture funding. Sam also highlights the cultural attitudes towards entrepreneurship, the impact of energy costs, and practical policy recommendations for boosting innovation. His insights challenge perceptions and suggest a more dynamic economic future for Europe.
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Ireland's Recovery Fueled By National Humiliation
- Sam recalls Ireland's post-crisis reforms driven by national humiliation and urgency.
- That shame motivated radical policy changes and rapid economic improvement.
Single Market Is Fracturing In Practice
- The EU single market has decayed into de facto national barriers, blocking scale for startups.
- Bowman's claim: ideas in small countries struggle to scale across Europe due to enforcement failure.
Loosen Finance For High-Risk Startups
- Encourage venture-style finance and freer pension allocations to support risky startups.
- Reduce reliance on conservative bank lending to stimulate high-upside innovation.

