3 ms·

GDP is entirely irrelevant. What matters is salaries. The US may have a high GDP per capita, but it is the most unequal western country. Minimum wage is very lo

GDP is entirely irrelevant. What matters is salaries. The US may have a high GDP per capita, but it is the most unequal western country. Minimum wage is very low in the US compared to Western Europe. US GDP is higher than Sweden, but workers tend to make more money in Sweden. In the US GDP is mainly distributed to the upper classes. I think in Norway a McDonalds worker makes something like 2x-3x as much per hour as an American McDonalds worker.

briandear 7y ago
> workers tend to make more money in Sweden. In the US GDP is mainly distributed to the upper classes. That just isn’t true. And, in minimum wage, the number of people that make minimum wage is extremely small — not even 2% of the total workforce. https://mises.org/wire/when-it-comes-household-income-sweden-and-germany-rank-kentucky https://mises.org/wire/when-it-comes-household-income-sweden...
- walterstucco 7y ago
  that's true everywhere in the world. because most of the workers make a just a little but more or don't even make it.
- oblio 7y ago
  I don't know if regular Walmart employees make minimum wage, but I'd rather be a cashier at Aldi in Germany than one at Aldi in Kentucky (sorry Kentucky, I'm just using you as an example from the linked article).
prepend 7y ago
Average wage is very different than minimum wage. Because of the US’ high gdp both the mean and median salary is much higher. In 2018, the U.K. median household income was $35,000 (converted from pounds) [0] and in 2019 $63,800 in the US [1]. That’s an enormous difference. There’s also many more ultra rich in the US than the U.K., but just your normal American has a lot more income to spend. [0] https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/bulletins/householddisposableincomeandinequality/yearending2018 https://www.ons.gov.uk/peoplepopulationandcommunity/personal... [1] https://en.wikipedia.org/wiki/Household_income_in_the_United_States https://en.wikipedia.org/wiki/Household_income_in_the_United...

briandear 7y ago

> workers tend to make more money in Sweden. In the US GDP is mainly distributed to the upper classes. That just isn’t true. And, in minimum wage, the number of people that make minimum wage is extremely small — not even 2% of the total workforce. https://mises.org/wire/when-it-comes-household-income-sweden-and-germany-rank-kentucky https://mises.org/wire/when-it-comes-household-income-sweden...

walterstucco 7y ago
that's true everywhere in the world. because most of the workers make a just a little but more or don't even make it.
oblio 7y ago
I don't know if regular Walmart employees make minimum wage, but I'd rather be a cashier at Aldi in Germany than one at Aldi in Kentucky (sorry Kentucky, I'm just using you as an example from the linked article).

prepend 7y ago

Average wage is very different than minimum wage. Because of the US’ high gdp both the mean and median salary is much higher. In 2018, the U.K. median household income was $35,000 (converted from pounds) [0] and in 2019 $63,800 in the US [1]. That’s an enormous difference. There’s also many more ultra rich in the US than the U.K., but just your normal American has a lot more income to spend. [0] https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/bulletins/householddisposableincomeandinequality/yearending2018 https://www.ons.gov.uk/peoplepopulationandcommunity/personal... [1] https://en.wikipedia.org/wiki/Household_income_in_the_United_States https://en.wikipedia.org/wiki/Household_income_in_the_United...