Average Americans more prosperous than Europeans: Former Bain Capital director
Former Bain Capital managing director Ed Conard discusses how Americans are thriving more than Europeans.
Is the American economy more prosperous than Europe right now? Former Bain Capital managing director Ed Conard said the proof is in the data.
“The average [U.S.] household earns 30 percent more than the German median household -- that’s up from 18 percent in the 1990s,” he told FOX Business’ David Asman during an appearance on Varney & Co. on Monday.
Conard also noted that when comparing American test scores to Northern Europe, low-scoring Americans earn 20 percent more per hour while high-earning Americans earn 50 percent more per hour.
“An American employer is able to give their employees 20 to 30 percent more hours,” Conard added. “So if you look at a Scandinavian-American, they are earning 50 percent more than their Scandinavian counterparts -- who would want that?”
What’s more, Conard said the United States is producing six times as many billion-dollar startups as Europe is “with half the talent.”
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