Comment by aristofun
5 days ago
It was the case maybe 50 years ago, but there are no systemic factors that support strong building/innovation/ entrepreneurial processes anymore. Maybe with some occasional exceptions.
Have you seen what crap cars even german manufacturers produce lately?
German car quality is a mark of how optimised manufacturers have got for building cars that work within 2 terms of 4 year finance plans.
You'd be foolish to think it correlates to any sense of innovation or entrepreneurialism.
OK, so why are German auto manufacturers no longer capable of building globally competitive products? They seem to have just given up and are now following a managed decline process with no plan for growth.
China mostly. They got undercut.
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This is the case throughout the West, including the US. A generation ago the powers at be decided they would invest in China for this.
No. America has major, yet temporary problems that follow global trends mostly (i.e. ~ same shit happens everywhere).
But Europe uniquely eradicates systemic innovation process regardless of current downturn. By completely ignoring its needs and diving deeper and deeper into their weird mix of socialism and government/old money controlled monopolism.