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The UK is one of the richest countries in the world. Yes but you are neglecting to mention the other side of this coin: also one of the most expensive countrie
by gaius 8y ago
The UK is one of the richest countries in the world.
Yes but you are neglecting to mention the other side of this coin: also one of the most expensive countries in the world. Look at purchasing power parity and the UK doesn’t seem rich at all, it’s all on paper only. Housing, fuel, transportation etc are all disproportionately expensive here.
- matthewmacleod 8y agoOkay, sure – if you rank by per-capita PPP then the UK slides down the chart further than you might expect. That doesn't in any way make it a poor country or change the point at all.
- gaius 8y agoWell, it sort of does: any services the government delivers will be delivered by people being paid UK wages using goods and services paid for at UK prices. We look rich from the outside because we (still) have a strong currency but from the inside the UK is not especially wealthy because you don’t get much for your money here.
- tonyedgecombe 8y agoThe problem is it is massively divided, a house that costs £100,000 in Wales might cost £500,000 in Oxford or £750,000 in London. Politicians on both sides keep banging on about mobility but the real problem is inequality.