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Comment by jsiepkes

1 year ago

It's probably more of cultural difference. It's common in the US to build companies like a lot of houses are build in the US.

In the US houses are often build from wood and plaster and have a high chance of being knocked down by a storm. Companies in the US are often build on a ton of dept (and never making a profit is not considered "weird") and have a high chance of being knocked down by a storm.

In Europe people like to build houses from brick and concrete. Companies in Europe are often expected to be profitable at some point and be able to wither a storm.

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jsiepkes

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pjc50  1 year ago

US vs. EU building materials is actually locally determined - there's a lot more forest in the vast empty spaces of the US and Canada, hence all the cheap wood.

Same for oil. Same for e.g. the UK steel industry. I think people underestimate the extent to which the EU either doesn't have the same level of natural resources, or has used them up. There's a reason the last time that Germany got serious about resource independence it tried to invade Azerbaijan despite the USSR being in the way.