The article challenges Paul Krugman's claim that Europe's productivity gap with the US is a measurement artifact, arguing that purchasing power parity (PPP) is unsuitable for assessing real growth over time. The authors contend that current PPP comparisons merely reflect price changes, not actual output increases. They emphasize that Europe faces genuine productivity challenges due to fragmented markets, small firms, shallow capital, slow technology adoption, and a lack of global tech giants. Ignoring these systemic issues, the article concludes, prevents Europe from implementing necessary policy reforms to foster true economic growth.