Another excellent primer from Megan McArdle, asking if Europe is free-riding on America's growth.
One of the mysteries, after all, for free marketeers, is why Europe’s growth isn’t much lower than it is. History teaches, after all, that excessively regulated societies are generally stagnant, yet Europe has managed respectable, if not stellar, growth.If you're unfamiliar with economics, read the whole thing and learn something. If you are familiar, it's still a good read.