The idea that spending by consumers and governments drives the economy is the basis for today’s anti-austerity "hosannas." The new French president, François Hollande, has promised to open the spigots and spend Europe back to economic health. If only it were that easy.
It’s said the grass is always greener on the other side of the fence, but what about the other side of the Atlantic?
Nick Akins grew up wanting to be a drummer in a rock-and-roll band.
When Jason Lee set off for a new country in search of success, his father was far from supportive. He saw Jason making a decision that was an affront to his upbringing. Hadn't he prepared Jason for all the work that was to be done closer to home? That was then, some handful of years ago.
In this series, we are looking at how tough economic times have led the United States and Europe down two different paths – one focused on budget cuts, the other on investment and enterprise.