3 ms·
You would be correct, the US lags far, far behind in median wealth, behind countries like Korea and Spain. https://www.abc.net.au/news/2018-11-23/australia-top
by vannevar 7y ago
You would be correct, the US lags far, far behind in median wealth, behind countries like Korea and Spain.
https://www.abc.net.au/news/2018-11-23/australia-tops-median-wealth-per-adult-list/10518082 https://www.abc.net.au/news/2018-11-23/australia-tops-median...
- adventured 7y agoAnd the US ranks ahead of both Germany and Sweden in median household net wealth. Those two are almost universally held up as extreme achievers on quality of life and both have notoriously good economies.
- vannevar 7y agoTrue. It's interesting to note that the ratio of the median to the mean for Germany is similar to the US, where France and other high-medians have smaller ratios. Why is wealth more naturally distributed in France, but less so in Germany and the US?
- dagw 7y agoI don't know about Germany, but Sweden has one of the highest private debt levels in the 'western' world. That seriously drags down the net wealth numbers. Also the whole point of the "Swedish model" argument is that a high net wealth shouldn't be a requirement for a high quality of life.