While I've been constantly surprised by the accomplishments of this euro-socialist trend (which, as early as six years ago, was reported by many to doubtlessly be a 'fad') and the successes of the smaller European markets as well as the EU as a whole, I wouldn't hold my breath.
Neoconservative advocates must challenge the European model actively, lest contemporary supply-side systems be cast into even further doubt by the accomplishments of the European models. While europhobia is hardly new to armchair right-wing punditry, the arguments against EU economies have been mostly forced into the realm of conceptuals and unsustainability theories, of varying tenability.
To acknowledge some things, such as higher GDP for the EU in a smaller geographic landmass than the US, would cast a pall upon the modern-day trade axioms of the Reagan-fashionable. It might even be, dare I say, the dreaded concession, to be avoided in nearly any degree.
Oh, it might be unsustainable. Most of us have issues of unsustainability at this juncture of world economic development. I won't venture to guess who will come out on top in the coming world economic shitstorm, or whether the United States will fare better than, say, Norway.
And how fitting indeed that sustainability issues should happen to have been that most prominently featured against poor Norway. Such a judgement is incomplete without an observation of our own nation. Say, how's that trade deficit of ours doing?
Many countries have a lot of capital in forms that don't show up on balance sheets. A person who is trained in the practice of medicine and has some number of years before retirement is such an asset. It's possible for socialism to harvest capital and turn it into present-day revenue. Such behavior will work wonderfully as long as there remains capital to be harvested. But when the capital dries up, things will get very bad.
The situation could be viewed as akin to a large store. One day, a new owner takes over and decides to cut prices by 25% and offer everyone a 25% pay raise. The only thing he stops doing is buying as much inventory as he's selling. Until he runs out of product, his employers and customers will think he's much better than the former owner. When the inventory runs out, everything will go kaput. But until then, everything will seem wonderful.
Your friend is a windbag with poor grasp of reality, economically speaking ... basically a bunch of verbosity in order to praise, without being forced to actually cite anything specific:
"the accomplishments of the European models"
LOL! Tell us another good one!
The United States since 1980 has outperformed the major European nations economically and continues to grow faster with higher productivity gains, vastly higher employment gains, and lower unemplyoment rates.
Those few nations that have grown faster than the US (such as Ireland) did so using the supply-side model of lower taxes and lower Government spending to fuel their economic success.