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You should use GNI not GDP for Ireland, as most of the pass-through untaxed corporate profits do not affect the local people, so measures like GDP per capita ar
by mikhailfranco 8y ago
You should use GNI not GDP for Ireland, as most of the pass-through untaxed corporate profits do not affect the local people, so measures like GDP per capita are meaningless:
https://en.wikipedia.org/wiki/Modified_gross_national_income https://en.wikipedia.org/wiki/Modified_gross_national_income
- barry-cotter 8y agoYou should use Gross National Product or Gross National Income for all of these comparisons to correct for the distortions you mention. Small countries that are well governed and regulated enough to have a large financial sector look even better using GDP per capita than GNI per capita but Luxembourg, Hong Kong, Ireland, Singapore etc. do very well even on a GNI basis. https://en.wikipedia.org/wiki/List_of_countries_by_GNI_(PPP)_per_capita https://en.wikipedia.org/wiki/List_of_countries_by_GNI_(PPP)... Average individual consumption is a better measure of the standard of living though unfortunately all we have reliably is household final consumption. Again, the rankings are quite similar. https://en.wikipedia.org/wiki/List_of_countries_by_household_final_consumption_expenditure_per_capita https://en.wikipedia.org/wiki/List_of_countries_by_household...