The second by Will Hutton is less good. There are many sensible things to be said about the comparison between the European and US economies, and most of them to correct the belief of recent years that the US economy is perfect and to be copied. Unfortunately Hutton as usual doesn’t make them. Instead he takes two of the (the two?) most-admired European companies, Nokia and VW, compares them with two US firms, GM and Ford, whom are not and bases his case for the entire continent on them. Then he brings out GDP per hour worked statistics, which in almost all the examples he mentions, are somewhat meaningless given their respective countries’ high unemployment levels. The left used to make this point during the Thatcher years – calling it the cricket average problem – if you only send out your openers; you’ll have a higher average score. And you’ll lose the game.
posted by Matthew @ 4/29/2002 08:48:00 AM
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