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Okay, but are they worse off because they can't afford as much stuff? They don't seem to be in more poverty, they're healthier, more fit and highly educated. I
by Joof 6y ago
Okay, but are they worse off because they can't afford as much stuff? They don't seem to be in more poverty, they're healthier, more fit and highly educated.
I can spend an extra 20k as well or poorly as I like.
- marcusverus 6y agoThat 'extra 20K' of income is easy to sneeze at for the affluent, but it means that Americans have ~40% more disposable income. That's huge. > They don't seem to be in more poverty They're clearly not 'more in poverty'. The point is that they spend (the US equivalent) of Trillions of dollars per year for comparable outcomes. >They're healthier, more fit and highly educated. This is a matter of culture, not economics. The US already spends more per pupil than all of the 'top 5' nations, with worse outcomes. [0] [0]https://data.oecd.org/eduresource/education-spending.htm https://data.oecd.org/eduresource/education-spending.htm
- Joof 6y agoSuppose that higher incomes are also a matter of culture.