In an op-ed, Prof. Thomas Cooley discusses Europe's response to the financial crisis
— July 18, 2014
Excerpt from El Pais -- "Productivity in some parts of Europe was low before the crisis, but fell [further during the crisis] and still has not recovered, except in Germany. Unlike Japan, on the outskirts loss was especially [in the area of] employment. Moreover, Europe does not seem to be making the investment in human capital [they] should do to improve their productivity."