BUSINESS

Much Too Responsible

SHANGHAI, CHINA - MAY 12: (CHINA OUT) Paul Krugman, Professor at Princeton University and winner of the 2008 Nobel Prize for
SHANGHAI, CHINA - MAY 12: (CHINA OUT) Paul Krugman, Professor at Princeton University and winner of the 2008 Nobel Prize for Economics, gives a speech on May 12, 2009 in Shanghai, China. Krugman warned of a lost decade of growth for the U.S. due to half-measures taken by the Obama administration and spoke of the urgency of a second fiscal stimulas package to boost the U.S. economy. (Photo by Zhu Lan/ChinaFotoPress/Getty Images)

The United States and Europe have a lot in common. Both are multicultural and democratic; both are immensely wealthy; both possess currencies with global reach.

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