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The US is substantially wealthier than almost all of those countries, except Norway with its oil riches. They have massive youth unemployment, disincentives to
by marcoperaza 11y ago
The US is substantially wealthier than almost all of those countries, except Norway with its oil riches. They have massive youth unemployment, disincentives to investment and entrepreneurship, and the lack of innovation to prove it.
- Mikeb85 11y agoThey actually have decent amounts of entrepreneurship relative to their populations, a higher average living standard than the US, longer life expectancy, far less crime, all despite having nearly no resources. Oh, and more equality. But GDP/total wealth is all that matters, right? And a little note on HDI (used to measure quality of life/human development) - its skewed in favour of the US because it measures average income, not taking into account the fact Americans pay extra for health care while Europeans include it in taxes/exclude it from income calculations. Even then several Euro states beat the US.