Abstract

This essay is my review of Olaf Gersemann’s book, Cowboy Capitalism: European Myths, American Reality. Gersemann was a reporter for Germany’s largest business weekly magazine, and he came to America to write an expose of the weakness of the American economy. What he found instead—and argued in detail—is that the American economy was robust, for better off than commonly believed in Europe. I finish the review by pointing out some things he overlooked, such as the fact that the U.S. has paid and continues to pay disproportionately more for joint American/European defense, and that no European nation has allowed in the vast number of poor immigrants that America has.