Average Americans more prosperous than Europeans: Former Bain Capital director

Is the American economy more prosperous than Europe right now? Former Bain Capital managing director Ed Conard said the proof is in the data.

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“The average [U.S.] household earns 30 percent more than the German median household -- that’s up from 18 percent in the 1990s,” he told FOX Business’ David Asman during an appearance on Varney & Co. on Monday.

Conard also noted that when comparing American test scores to Northern Europe, low-scoring Americans earn 20 percent more per hour while high-earning Americans earn 50 percent more per hour.

“An American employer is able to give their employees 20 to 30 percent more hours,” Conard added. “So if you look at a Scandinavian-American, they are earning 50 percent more than their Scandinavian counterparts -- who would want that?”

What’s more, Conard said the United States is producing six times as many billion-dollar startups as Europe is “with half the talent.”