East Bests West

Over at Tech Central Station, Marian Tupy delivers good news from New Europe:

Economic liberalization in post-communist Central and Eastern Europe is paying off. Per capita incomes in that region are growing faster than those in Western Europe. The fact that the new poorer EU members are catching up with the old is a tribute to the power of the market. The reforms in the new EU countries are not over, but their success should serve as an example to the moribund economies of France, Germany and Italy.

Whole thing here.