Who exactly benefits from a business going under? Its bigger competitors? The less well off are the ones that suffer the most from oligarchic sectors and cartels.
By GDP per capita, 7 of the top 10 countries in the world are European.
https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nomi...
Given this fact, will you now question your priors, or try to find a new justification for them?
Except it is not. I chose to live in the EU when I had the option to move to the US, and it is fine.
Unless your measurement of "being poor" is that you can't exploit people in a get rich quick scheme and make destructive amounts of money but being acquired or dumping your IPO in the stock market.
is it?
>Who exactly benefits from a business going under? Its bigger competitors? The less well off are the ones that suffer the most from oligarchic sectors and cartels.
The big thing going under right now is legacy auto manufacturers in Germany. That's sad, but the same happened in US without all the labor protections. It's just a lifecycle of industries -- they got fat and comfortable.
The way German manufacturers managed to outlive US ones while having stronger labor laws seems to contradict you story big time.
