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GDP per capita in the US is more than 25% greater than Europe.
by friendlygrammar 10y ago
GDP per capita in the US is more than 25% greater than Europe.
- ryandrake 10y agoWhich has what to do with standard of living?
- friendlygrammar 10y agoActually, standard of living is pretty heavily tied with gdp per capita, but I'm pretty sure we are talking about which country is richer not standard of living.
- jacquesm 10y agoOnly if the GDP is spread out equally. Income in-equality is a fine way to mask poverty in spite of a huge GDP.
- e12e 10y agoHow so? If you take a "cake" of 100 units, let 99 people share 1, and give 1 to 1 person. Then most people have 1/99 units. If your cake is 85, and you give everyone an equal share, everyone has a 85/99 units. Now, the situation in Europe is probably more like having 2 people split 60 units out of 85 - but that still leaves "the rest" way a head of those that only get 1/99...
- billmalarky 10y agoAnd how is that GDP distributed again?
- ionised 10y agoGDP is heavily skewed towards the wealthy and big business. It's borderline useless for determining the wellbeing of the average worker.