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Measuring manufacturing in $$$ might be a bit misleading. If China makes 4 $10 business shirts for every one $50 business shirt the US makes ... ?
by D_Alex 16y ago
Measuring manufacturing in $$$ might be a bit misleading. If China makes 4 $10 business shirts for every one $50 business shirt the US makes ... ?
- uytrhyujkujhy 16y agoThen that shows that the US industrial output is bigger. That's why Germany makes $50,000 cars and Mexico makes $15,000 ones
- ars 16y agoHow else could you possibly compare them?
- Zpirate 16y agoPurchasing power parity in local currency?
- yummyfajitas 16y agoYou didn't answer ars' question, you simply deferred the answer to whoever is defining PPP.
- D_Alex 16y agoYou could compare them in many ways, and $$$ is possibly the best single measure. But the OP article is uncritically self-congratulatory, which is not altogether appropriate given that same products of equal quality do cost a lot less if made in China.
- deleted 16y ago[deleted]
- brc 16y agoyes, back in the old days they used to measure an economy by tons shipped. It doesn't apply anymore due to higher value things being lighter, and tracking air-shipments would be a problem. However, it does underlie a point - tracking the value of shipments by a currency value can easily obscure important facts.
- StuffMaster 16y agoYeah, it's very non-obvious to the layman that they're talking about value rather than production.