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The AUS minimum wage is higher, but not the per-capita mean. Stuff is cheaper in the US primarily because the market is larger, so fixed costs can be spread ove
by ojbyrne 10y ago
The AUS minimum wage is higher, but not the per-capita mean. Stuff is cheaper in the US primarily because the market is larger, so fixed costs can be spread over more units sold. And larger markets also mean more competitition, which means companies can't as easily price discriminate. Government regulation, and the relative isolation of Australia probably contribute as well.
- grecy 10y ago> but not the per-capita mean The interesting thing about the per capita mean in the US is that it's completely meaningless. So few have so much, that it doesn't tell us anything about how much money regular folks on the street actually have to spend on stuff.