The European Commission’s (Anti)Competitiveness Compass
The European Commission unveiled the Competitiveness Compass, a new initiative aimed at boosting member states’ productivity, on Tuesday. European Commission President Ursula von der Leyen declared that the E.U. must adapt to a changing world to defend its values, but the Competitive Compass doubles down on central planning and aggressive environmental targets.
Despite its extensive integrated market, internally and internationally, the European Commission recognizes that the Union has “not kept pace with other major economies.” In 2023, the Union’s gross domestic product (GDP) per capita was $53,783 (in 2021 dollars), a level that the U.S. hasn’t seen since 1999 and far less than U.S. GDP per capita of $74,578 in 2023. To provide more perspective, the European Commission praises a historically low unemployment rate of 6.1 percent in 2023; the American unemployment rate was nearly half that in the same year.
In its “Communication from the Commission,” which details the policies that von der Leyer believes will make the E.U. more competitive, the Commission rightly identifies high energy prices and a high regulatory burden as making Europe’s companies less compet
Article from Reason.com
The Reason Magazine website is a go-to destination for libertarians seeking cogent analysis, investigative reporting, and thought-provoking commentary. Championing the principles of individual freedom, limited government, and free markets, the site offers a diverse range of articles, videos, and podcasts that challenge conventional wisdom and advocate for libertarian solutions. Whether you’re interested in politics, culture, or technology, Reason provides a unique lens that prioritizes liberty and rational discourse. It’s an essential resource for those who value critical thinking and nuanced debate in the pursuit of a freer society.
