OMG, The Economist

Are you OK there?

2 min readMay 2, 2024

The Economist was once viewed as a staunchly conservative and fiscally hard-right publication, loyal to investors, bankers, right-leaning pundits and the wealthy. Not so any longer, since brilliant and visionary editor Zanny Minton Beddoes came in and steered left, but not too far left.

She opposed Trump, laughed at Covid conspiracy theorists, climate deniers and bunkered Americans feeding on Q-Anon nonsense. She also smiled condescendigly at the woke movement, making it clear she supports the original intent, but gives them an F for their lack of understanding of marcroeconomics, business, industry and the essential laws of supply and demand. She has been my hero for a number of years. I needed a news source that isn’t politically blind-faithful, but analyzes big stories, works on causes and effects, and offers ideas for leaders to navigate from here to better. The Economist has represented a voice of common sense, political centrism, intelligence and progress.

Then, I read this article. Oh dear…

It suggests Americans work harder than Europeans because we have to, and because there’s less on offer in the US when we eventually have some free time and want to spend some money.

It completely misses the essential fact. America offers more opportunity than Europe does. The reward for hard work is more apparent and more within reach. Unline most European corporations, job movement and upward mobility is a daily expectation. You don’t have to wait for your superiors to die or retire before you can move up. You’re far more likely to start your own company here than in UK, FR, DE etc. Conversely, those who coast and put family and leisure time before work, are almost always left to wallow in lower middle management and mind-numbing mediocrity.

America is a big country. Opportunities are bigger and more plentiful. But there are also mroe people chasing after them. For example, if you have a business that can sell a product or service to anyone in America, your total addressable market (TAM) is 330 million people. You can make a really nice living selling even niche items. That doesn’t work so well in Ireland or any other small country.




San Francisco geek, entrepreneur, wannabe economist, mediocre equestrian