The minimum wage doesnt mean much in general, many European countries either dont have it or recently instated it (Germany). What matters is the Median and quintile salaries in which, the US fares much better anyways

Many other countries have official minimum wages and a big % of people working black, unreported because the minimum wage is to high relative to the average (Spain, Greece, Italy)

The real minimum wage is also stuck in many parts of Europe relative to 2008. For example in Spain the average salary didnt increase adusted to inflation.

The blackrock thing seems like a myth, but private entities are also buying housing en masse in Spain for exammple

Yeah but EU regulation makes other things expensive and inefficient (like the labour market, housing, building new companies because incumbents protect their interests trhough regulation).

The fact is that with insulin the regulation issues comes from the patchwork system of healthcare the US developped through political concesssionns and lobbying from private firms, which makes the developpment and the subsequent commercialization expensive relative to Europe where centralized national bodies negotiate with the pharma companies.

Regulation can be good or bad, in our era it is ineffective because politicians are boomers disconnected from the issues or in the EU a pseudo-technocratic (not really listening to technocrats recommendations) body far from reality

This series of posts is a nice forray into managerialism (the source of many regulation issues) https://baazaa.github.io/2024/10/16/managers_p1.html

This is indeed the railways of our time...

I have heard this opinion echoed by Indians, the combination of both the outside not being their problem, and thinking someone else (lower caste) will take care of it.