Why the young are fleeing to Portugal
The legendary music producer Rick Rubin once asked me why I had never moved to the United States. The answer, I think, comes down to an important trade-off: quantity of earnings vs quality of consumption. Historically, once you had a job, there was a limit to the lifestyle choices you could make Whereas the United States is certainly a better place to earn and accumulate money, Europe is, on balance, still a better place to spend it. (Which may explain why Rick asked me that question at his summer home in Italy.) This imbalance partly arises from a fundamental asymmetry in the transmission of ideas. Whenever anything good or interesting