Europe decided to engage in a heavy handed, prior approval, regulatory approach. And the consequences of that decision were massive. Here's an amazing stat. In 1993, The economy of the United States and the economy of the EU were virtually identical [in 1993]. Today, the American economy is more than 50% larger than the EU. And there are two drivers of that. Tech and the shale revolution. That's it. That comprises the entirety of that difference. And you think about, there are virtually no major tech companies in Europe. (03:47–04:01)
CLAIM
Asserts that the U.S. economy is now more than 50% larger than the EU's economy, compared to being virtually identical in 1993.
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