It's stagnation in the headline, not decline. There's a massive difference. European GDP per capita has been roughly 75% of America's for the last 50 years.
Over that same period, American GDP per capita has more than doubled, even after adjusting for inflation.
Which means that European GDP per capita has also more than doubled. 75% of an increasing number is also an increasing number.
Over that same period, American GDP per capita has more than doubled, even after adjusting for inflation.
Which means that European GDP per capita has also more than doubled. 75% of an increasing number is also an increasing number.