3 Takeaways™ Why America’s Poorest State Is Richer Than France (#251)
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May 27, 2025 
Tyler Cowen, an economist and professor at George Mason University, discusses the surprising economic status of Mississippi, which now has a higher GDP per person than France. He explores America's tech dominance and regulatory advantages that outpace Europe. Cowen emphasizes the importance of diversity and immigration in fostering economic opportunities, as well as the U.S. tolerance for creative destruction that spurs innovation. He also warns about the mental health risks faced by wealthier societies, advocating for curiosity and mentorship as pathways to personal growth.
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U.S. Per-Capita Advantage Is Huge
- The U.S. economy has outpaced Europe so much that U.S. GDP per person is nearly double Europe's.
- Remarkably, Mississippi's GDP per person now exceeds France, the U.K., Italy, and Spain.
Tech Scale Hinges On Market And Regulation
- America's tech sector and its less restrictive environment drive outsized economic growth compared with Europe.
- The EU's fragmentation and heavier regulation prevent tech firms from scaling like U.S. companies do.
Immigration Fuels U.S. Prosperity
- The U.S. attracts top global immigrants because it offers broader opportunities and lower taxes than many alternatives.
- Those immigrants substantially raise median incomes and economic dynamism in the U.S.