In Europe, inequality is generally treated as an Evil, a moral abomination ; therefore material equality, even if it means, as in the former Soviet Union, that that no one (except the Politburo) has anything, is elevated to the status of an ideal Good. “real equality” championed by communists and socialists of every stripe has simply never existed.

Equality, as a moral value, has served largely as a pretext for socialism take from Peter and give to Paul all while funding a sprawling, parasiticapparatus of “redistribution” that provides no opportunity or incentive to succeed or to keep what one has earned.

Carriage drivers in New York’s Central Park or dog-walkers in Beverly Hills will soon earn more than French physicians and German engineers not metaphorically, but in cold cash.

Europe is becoming to the USA what Greece was to Rome: a charming open-air museum.

There can be no capitalism without capital…When NVIDIA, TSM and others invest hundreds of billions, those billions must first have been accumulated without being confiscated by the state at every turn, and the investors must believe that their pooled investment will at some point yield a worthwhile profit.

European energy already costsfive times more than American energy… That single variable suffices to justify the exodus of European industry to markets with kinder climates, notably the United States.

[T]o believe that Europe will become anything more than an open-air museum while it continues to entrust its future to figures such as the weary mediocrity of our current leaders—and, above all, to the ruinous, outworn ideas that animate them is folly.

In a world where shifting economic forces are redrawing the global balance of power, the trajectories of the United States and the European Union (EU) over the coming decade (2025-2035) seem destined to diverge ever more sharply.

By 2023, U.S. GDP per capita had climbed to US $82,770, exactly double the EU’s $41,420.

America’s lead rested on average real growth of 2.2% between 2010 and 2023; productivity gains of roughly 14 %, and research-and-development spending equal to 3.4% of GDP. Add to that a remarkably flexible labour market, modest but positive demographic growth (+0.5% per year) and, since 2019, energy self-sufficiency.

The EU tells a different story: annual growth of barely 1.3%, a mere 7% rise in hourly productivity, a working-age population that shrinks by about one million a year, and an energy-dependence rate still hovering around 58%.

“Ah, but….” retort the socialists of every political hue—and in Europe they exist in every party—”you cite average income, not median income.” Median income, the point at which 50% earn less and 50% earn more, is indeed lower than the mean in the United States. Inequality is more pronounced in the US than in Europe. Yet their reply, presented as though it settled the debate, is itself part of Europe’s predicament.

In Europe, inequality is generally treated as an Evil , a moral abomination ; therefore material equality, even if it means, as in the former Soviet Union, that that no one (except the Politburo) has anything, is elevated to the status of an ideal Good.

At 17, as year-old law student, I had the opportunity to interview André Molitor, former chief of staff to King Baudouin of Belgium. Molitor, a gracious left-wing Catholic, confided that the single thing he truly despised was inequality; his dream was for “fewer rich and fewer poor.” It seemed a contradiction, then and now.

True material equality is a myth. The “real equality” championed by communists and socialists of every stripe has simply never existed. Hand every European €100,000 today, and by tomorrow there would already be a handful of tycoons—perhaps even an Elon Musk or two —alongside those who squandered everything, with the vast majority scattered somewhere in between. Equality, as a moral value, has served largely as a pretext for socialism — take from Peter and give to Paul– all while funding a sprawling, parasitic apparatus of “redistribution” that provides no opportunity or incentive to succeed or to keep what one has earned.

Europe’s elevation of material equality may well be its most disastrous bequest to itself. With ironclad consistency, the continent advances toward greater equality—in increasing misery and squalor.

Baseline projection for 2035 at current growth rates show that if current trajectories persist—2% annual growth in the United States versus 1% in Europe—the average American income will exceed US $100,000 by 2035, while Europe’s will remain around US $50,000. Carriage drivers in New York’s Central Park or dog-walkers in Beverly Hills will soon earn more than French physicians and German engineers—not metaphorically, but in cold cash. Even taking into account the differences, in Europe and the US, in inflation and purchasing power—the cost of living is lower in Europe—the transatlantic gap is immense and growing.

Under alternative scenarios—a European technological renaissance, or conversely a severe geopolitical shock for the United States, the ratio rarely falls below 2:1. America’s sheer scale, productivity, energy endowment and investment capacity remain decisive.

Plainly stated: absent a political sea-change, Europe is on a path of swift decline, notwithstanding genuine strengths such as longer life expectancy. Per-capita GDP—imperfect yet inescapable—crystallises a transatlantic chasm. Europe is becoming to the USA what Greece was to Rome: a charming open-air museum.

Is it inevitable?

Hauling Europe out of the mire of socialism, in all its guises, would demand two transformations so radical they verge on the unimaginable.

1. Re-creating dynamic capital.
   There can be no capitalism without capital—without venture funds and mega-rounds. When NVIDIA, TSM and others invest hundreds of billions, those billions must first have been accumulated without being confiscated by the state at every turn, and the investors must believe that their pooled investment will at some point yield a worthwhile profit. Building such pools of capital in Europe would entail abandoning the doctrine of real-world equality. Modern technological breakthroughs requirevast sums no longer available among most Europeans. European savings exist, but they flowinto property, life-insurance policies or—tellingly—U.S. markets. A shift toward private pension schemes instead of the current system of public pensions (paid from the general government budget) would at least nudge the continent in the right direction. For situations where private pensions are not an option, there still could be a government-provided safety net.
2. Dismantling the European Green Deal.
   European energy already costs five times more than American energy (source EU Natural Gas TTF, US Henry Hub Natural Gas Spot Price). That single variable suffices to justify the exodus of European industry to markets with kinder climates, notably the United States. Measured against the self-inflicted energy crisis of Europe’s “GreenDeal,” President Trump’s tariffs are just a small footnote.

Let us nevertheless remain hopeful. History is now written at breakneck speed, and almost anything remains possible. Yet to believe that Europe will become anything more than an open-air museum while it continues to entrust its future to figures such as the weary mediocrity of our current leaders—and, above all, to the ruinous, outworn ideas that animate them—is folly.

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