Is Europe a Laggard? Comparing the EU and the US using an Interdisciplinary Well-Being Framework
Ecological Economics
Is Europe falling behind the United States? Judged by productivity and income, the answer seems to be yes: the US has steadily extended its economic lead since the 1990s. Judged by well-being indicators, the picture looks different. Using a Beyond GDP framework, this paper shows that Europeans live about three years longer, face far lower homicide rates and less inequality, and have largely caught up on life satisfaction and education, while emitting less than half as much carbon per person. Both regions, however, share worrying trends in institutional trust and neither region is on track to meet climate targets. Our findings suggest that Europe’s competitiveness debate should look beyond GDP and productivity to the sustainable and inclusive well-being these are meant to serve.
