5 ms·

Brasil is the 8th economy in the world.

by motoboi 10y ago

erickhill 10y ago
Perhaps the country has a large economy, but its people are being left behind. In the list of countries by average wage, they are 47th. https://en.wikipedia.org/wiki/List_of_countries_by_average_wage https://en.wikipedia.org/wiki/List_of_countries_by_average_w... And for the median household income, they aren't in the top 35, either. https://en.wikipedia.org/wiki/Median_household_income https://en.wikipedia.org/wiki/Median_household_income
- myth_drannon 10y ago
  The first wiki link data is weird. How is that even possible ? 25 Israel $1,804 26 Russia $1,800
  - Roodgorf 10y ago
    I'm not sure I understand what you're pointing out here. How is what possible, the Israel's average wage is $4 more than Russia's?
fnbr 10y ago
GDP per capita is the relevant metric here, as it's a much better gauge of how much money each person has. Using that metric, Brazil ranks 76th [0]. Ranking countries by nominal GDP [1] gives a lopsided view of the world's economy as you can have countries with very large populations of poor people that rank highly, such as China (#2) or India (#9). [0] https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)... [1] https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal) https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nomi...
- sndean 10y ago
  > GDP per capita is the relevant metric here Yeah, I was going to make a similar comment. Listing the wealth of nations based on nominal GDP will result in a list that's similar to ordering them by population size.
- grecy 10y ago
  >as it's a much better gauge of how much money each person has You've got to be kidding me. The US has a massive GDP per capita but there are 30 million people struggling to survive without even healthcare. GDP per capita tells you nothing about how much each person has, it just tells you how much there is and how many people. How's it's split among them is another story.
  - aianus 10y ago
    > The US has a massive GDP per capita but there are 30 million people struggling to survive without even healthcare. Relatively few people personally need healthcare at any given time. In comparison to, say, clean water, food, shelter, education, and physical security, which actual third world countries seem to still have serious problems with.
    - grecy 10y ago
      > which actual third world countries seem to still have serious problems with. If you're comparing the US to actual third world countries, you've already lost.
  - umanwizard 10y ago
    The U.S. is one of the most developed countries in the world, by any reasonable metric. It's true that it's not doing the best in the world, or that it has no problems -- especially when you compare it to a narrowly cherry-picked set of countries in Western and Northern Europe[1], or island/pseudo-island megalopolises in East Asia like Japan and South Korea. But its massive GDP per capita lines up well with other measures of development, like its HDI. [1]: As an aside, it's probably more fair to compare Europe as a whole to the US as a whole, and places like Norway and England to places like California and Washington.

Brasil is the 8th economy in the world.

by motoboi 10y ago

Brasil is the 8th economy in the world.

Perhaps the country has a large economy, but its people are being left behind. In the list of countries by average wage, they are 47th. https://en.wikipedia.org/wiki/List_of_countries_by_average_wage https://en.wikipedia.org/wiki/List_of_countries_by_average_w... And for the median household income, they aren't in the top 35, either. https://en.wikipedia.org/wiki/Median_household_income https://en.wikipedia.org/wiki/Median_household_income

myth_drannon 10y ago
The first wiki link data is weird. How is that even possible ? 25 Israel $1,804 26 Russia $1,800
- Roodgorf 10y ago
  I'm not sure I understand what you're pointing out here. How is what possible, the Israel's average wage is $4 more than Russia's?

fnbr 10y ago

GDP per capita is the relevant metric here, as it's a much better gauge of how much money each person has. Using that metric, Brazil ranks 76th [0]. Ranking countries by nominal GDP [1] gives a lopsided view of the world's economy as you can have countries with very large populations of poor people that rank highly, such as China (#2) or India (#9). [0] https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)... [1] https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal) https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nomi...

sndean 10y ago
> GDP per capita is the relevant metric here Yeah, I was going to make a similar comment. Listing the wealth of nations based on nominal GDP will result in a list that's similar to ordering them by population size.
grecy 10y ago
>as it's a much better gauge of how much money each person has You've got to be kidding me. The US has a massive GDP per capita but there are 30 million people struggling to survive without even healthcare. GDP per capita tells you nothing about how much each person has, it just tells you how much there is and how many people. How's it's split among them is another story.
- aianus 10y ago
  > The US has a massive GDP per capita but there are 30 million people struggling to survive without even healthcare. Relatively few people personally need healthcare at any given time. In comparison to, say, clean water, food, shelter, education, and physical security, which actual third world countries seem to still have serious problems with.
  - grecy 10y ago
    > which actual third world countries seem to still have serious problems with. If you're comparing the US to actual third world countries, you've already lost.
- umanwizard 10y ago
  The U.S. is one of the most developed countries in the world, by any reasonable metric. It's true that it's not doing the best in the world, or that it has no problems -- especially when you compare it to a narrowly cherry-picked set of countries in Western and Northern Europe[1], or island/pseudo-island megalopolises in East Asia like Japan and South Korea. But its massive GDP per capita lines up well with other measures of development, like its HDI. [1]: As an aside, it's probably more fair to compare Europe as a whole to the US as a whole, and places like Norway and England to places like California and Washington.