Meaning: This quote by John Hutton, an educator, addresses the economic performance of Western Europe in comparison to the United States in terms of GDP per capita. The statement suggests that in 2001, Western Europe's GDP per capita, when not considering the new accession countries, was lower relative to that of the US than at any time since the 1960s. This observation points to a significant economic shift in the relative prosperity of the two regions over the span of several decades. To fully understand the implications of this quote, it is necessary to delve into the economic context of Western Europe and the United States during the specified period.

In the early 2000s, Western Europe faced economic challenges that impacted its GDP per capita relative to the United States. The region was grappling with issues such as slow economic growth, high unemployment rates, and structural impediments to competitiveness. These factors contributed to a relative decline in GDP per capita compared to the US, marking a departure from the economic dynamics of previous decades.

The reference to the "new accession countries" is significant as it pertains to the expansion of the European Union (EU). In 2001, several countries in Eastern and Central Europe were in the process of joining the EU, leading to the enlargement of the economic bloc. However, Hutton's quote specifically excludes these new accession countries from the comparison, indicating a focus on the established economies of Western Europe.

The phrase "not taking into account the new accession countries" underscores the desire to isolate the economic performance of the core Western European countries from the influence of the impending EU enlargement. This distinction is crucial in analyzing the specific economic dynamics within Western Europe and its comparative standing vis-à-vis the United States.

Analyzing the relative GDP per capita of Western Europe and the US provides insight into the broader economic trends and disparities between the two regions. GDP per capita serves as a key indicator of the average economic output and standard of living, offering a metric for comparing the prosperity of different countries or regions.

The comparison drawn by Hutton reflects the historical economic relationship between Western Europe and the United States. The fact that Western Europe's GDP per capita was lower in 2001 relative to the US than at any time since the 1960s suggests a notable divergence in economic performance. This observation prompts an examination of the factors contributing to this shift and the potential implications for both regions.

It is important to consider the broader economic and geopolitical context of the early 2000s. The aftermath of the dot-com bubble, the impact of the September 11 attacks, and the subsequent geopolitical uncertainties all played a role in shaping the economic landscape of Western Europe and the United States during this period. These external factors likely influenced the relative GDP per capita and economic trajectories of the two regions.

In conclusion, John Hutton's quote encapsulates a significant observation regarding the economic performance of Western Europe in comparison to the United States in 2001. The statement highlights a decline in Western Europe's GDP per capita relative to the US, signaling a departure from the historical economic dynamics between the two regions. By excluding the new accession countries, the quote underscores the specific focus on the established economies of Western Europe. This comparative analysis sheds light on the economic challenges and disparities that characterized the early 2000s, providing valuable insights into the evolving economic landscape of Western Europe and the United States.