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It's a good article but I have a small problem with it

The article states, quote :

"Under its expensive welfare programmes, paid for by a high level of productivity in traditional manufacturing industries, Europeans enjoyed a pampered life. With the Soviet threat gone, this accelerating prosperity further encouraged them to renounce the idea of war and military coercion, and they settled down to enjoy an assured future ascendancy.

By the beginning of the 1990s, with America in apparent decline, it seemed a reasonable bet that this extraordinary model of economic and political success would become an example to the world. But external and internal forces were already undermining this paradise.
"

um.. the Berlin wall came down in 1989... but the article says after the soviet threat was gone but before the tech revolution of the early 1990's Europeans were enjoying a pampered life with accelerating prosperity...

for what a year or two ? because that's the time span were talking about.

the other problem I have is ... when was America in decline in the early 1990's ? America has been in a economic boon since Reagan took office in the 80's, which accelerated after the republicans took over the legislative branches in the early 1990's.

With regards to posts 9, 33, and 36,

I think one of the problems is of perspective. At that time it seemed to many foreigners that "yes, the US is growing at 4%, but hey, we in Europe/Japan/Asia/wherever are growing at 6/8/10/12%! We are destined to overtake you!". This is the idea you get if you read any the London Times of that time, let alone Le Monde.

Of course the problem is that institutional economics's role was ignored. Welfare dependency, and more importantly, national culture of entrepreneurship vs conventionality, rule of law, etc played a critical role even from 1980 onwards. No one in Europe and Japan paid any attention to what you Yanks were are are doing on these areas until too late, and the one mistake that (P.R.) China, India etc are going to repeat soon.

um.. the Berlin wall came down in 1989... but the article says after the soviet threat was gone but before the tech revolution of the early 1990's Europeans were enjoying a pampered life with accelerating prosperity...

And another problem I have is that this "pampered" life period was not really that enviable when you remove your dusted issues of Reader's Digest or even MSMs like Time and read reports on Europe at that time. Europe was also under recession, and I don't remember when they have ever been in strong growth since 1989. (Some argue that for a couple of years after reunification, western Germany enjoyed this due to government-subsidized economic activities aimed in rebuilding the eastern part of the country, but there are other contradicting reports from Der Spiegel etc).