Who is to blame for Europe's declining growth rate? I hobby-studied this for 5 years and came to these conclusions:
It's lazy and wrong to just point the fingers at politicians.
And it's also wrong to assume there even is an agreement about the fact that we have a problem.
Or that us having a problem is even a fact.
The question of slowing growth is discussed within the "elite" only. Entrepreneurs. Politicians. Academics.
But what if the average middle class worker or retiree disagrees there is a problem? You know, just that democratic majority ;)
From their perspective they might be right: Growth grants our children and especially grandchildren a better life. But it will (statistically evident) require more effort from us right now. And short term burn more CO2 etc.
So what if this extra effort is not desired? What If 7 weeks of holiday per year is utopia right here right now already achieved? (Looking at you France) What If technological change is stressful and not desired?
Then we are actually on the right track
Or at least in this very moment in the minds of the democratic majority.
So I think the core is this:
We are in the middle of a fight between a strong minority against a complacent majority.
In a well functioning democracy the majority rules.
So to blame politicians themselves is looking only at the symptom.
The elite should instead blame their fellow humans. But that's too honest. That's too raw. So let's just keep pretending...
Hopefully at some point we realize blaming is pointless though.
Because these things follow a certain law of nature.
It's a problem of finding hunger in paradise. It's unsolvable. Or at least VERY hard.
Let world events do it for us instead:
Once Chinas GDP per capita catches up with Europe and our priviledged life fades, at some point on that curve the majority will be ready for change
There is a certain beautiful logic to this once you give up fighting and instead realize everything will balance itself out.
I used to stress about a topic like this. Because I want to be in an environment of growth and energy. So I felt frustrated living in Europe.
But there are MANY people like me on this continent. I can just surround myself with them and the right energy, and not concern myself with the bigger picture.
Or fight the good fight of promoting a prosperous Europe, as others are already doing, get some marginal wins, and be proud and happy about those.
The winds of change are now blowing for Europe. My old self would analyze it and conclude (probably corcectly) it's too slow. My new self enjoy observing the zeitgeist change slowly while realizing it's forces beyond anyone's direct control. Grateful for that actually - it means we actually still live in a democracy.
And along the way grow a little respect for the majority's point of view can't hurt either.