tag:blogger.com,1999:blog-11073478.post4761993402427187463..comments2023-03-24T05:58:58.993-04:00Comments on Canada's John Galt: A simpler way to think of a credit bubbleMitchhttp://www.blogger.com/profile/07278208825096999552noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-11073478.post-62323412071216832012009-02-14T07:22:00.000-05:002009-02-14T07:22:00.000-05:00"America has one of the most dynamic economies in...<I>"America has one of the most dynamic economies in the world because it generally recognizes that it is better to wind up troubled enterprises quickly than let them fester and drag down everybody else."</I><BR/><BR/>Well said.<BR/><BR/>A few years ago, I read an article (I forget where) which compared job-growth in the U.S. against the EU. The U.S. was ahead in the NET numbers. The really startling part were the GROSS numbers. The U.S. Gross Job Losses and Gross Job Gains were an order of magnitude above the EU. The secret of the US was that is was allowing many more people to lose jobs and find new ones, instead of keeping them in less productive jobs.<BR/><BR/>I should try finding the numbers somewhere on the web, to confirm this afresh.Realist Theoristhttps://www.blogger.com/profile/02443210652365042245noreply@blogger.com