Why does Europe grow more slowly than the United States?

Recovery from the recent financial crisis and “great recession” has been slower than after previous recessions in most developed countries and areas, especially Europe. But Europe's growth problem is structural in character and started much earlier. This paper analyzes the structural causes of the European slow growth, evaluates the policies that Europe adopted to overcome it, and concludes that even with the appropriate policies, the prospects for accelerating growth in Europe will be difficult, especially in the context of the current US-China trade war.