The U.S. economy has grown at nearly double the rate of the EU economy over the past 10 years. Per capita U.S. gross domestic product is now around 85% higher than the European Union average. U.S. GDP now stands at $32.5 trillion, and EU GDP at just below $23.1 trillion.

In 2008, excluding the United Kingdom from the EU calculation (the U.K. left the EU in 2020), the two economies were roughly equal in size. This economic divergence is a function of U.S. productivity growth, America’s reliable access to generally cheap energy, and its technology sector dominance. But it ultimately reflects the American capitalist model’s superior service of human interests over the socialist-lite EU model.

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