alt Hacker NewsIt is a good example that what Europe lacks is capital. And there is an rich get richer phenomenon where wealth flows to the USA, and successful European companies gets sold (and many talented Europeans ends up working for American companies). In many ways the dynamic is one of a colony.
The more I learn about modern economics, the less I feel I know. Right now, the sense I have is that the flow of money from Europe to the USA is more like using the US as a flag of convenience than a material loss of wealth, especially given how many "American" companies have European offices filled with European staff and how much money is made selling space for ads from European companies to European users.