American traders aren't likely to take kindly to the suggestion that big government might be good for the stock market. But data from a paper on the job- and income-growth of top earners shows that stock prices in some socialized countries, relative to themselves and adjusted for inflation, have done considerably better than those in the U.S over the last two and a half decades.
Specifically, during the twenty five years after Ronald Reagan took office -- a pro-market honeymoon that Ryan Chittum of the Columbia Journalism Review this week termed "the ascent of laissez-faire economic policies" -- French stock prices have performed significantly better than Americans ones, according to the report by Jon Bakija, Adam Cole, and Bradley Heim.
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