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These seem to very much cherry picked states. Like CEO pay ratio. How does that in anyway correlate to a better life. if you look at gdp per capita growth in p

These seem to very much cherry picked states. Like CEO pay ratio. How does that in anyway correlate to a better life. if you look at gdp per capita growth in places like germany who have only grown from 45k to 47k since 2008. The US grew from 45k to 62k. Thats an insane jump and its lead is getting bigger not smaller.. The US also has more CEO per capita, more startups per capita, more unicorns per capita which is a more apt reason CEO pay is higher. The CEO in the US are generally better and their companies make more money than European counterpart especially startups. You can apply this to shares of economy going to workers pay too. Is the US pie just bigger. If so why does share matter. Whats the annual average wage? If the minimum wage is low but the average wage is high which is is why does it matter where the bottom is. Some of this is correct like incarnation rate, but a lot of seems to point to where other first world countries have got it wrong when you look at the results you really care about.

jeffbee 6y ago
The manner in which GDP per capita goes up is not helpful: rapid inflation of health care and housing costs. GDP per capita is not increasing over a short term in Germany and Austria but everyone has a home and health care.
- DeonPenny 6y ago
  I think GDP matter in that it reflects the ability of a country to create resource. How ever how each country feels like using it is their prerogative. I doubt German citizen would complain if they had another 20k per year on average. I think the issue is that values in those different countries are very different. Theres much less freedom in terms of housing and income in Germany which makes it easier to have equality of outcome. By the very definition of a free society the free-er you are to succeed, the free-er you are to fail and to the sadness of most people, the distribution of success is a pareto distribution and not a normal distribution . The usually doesn't want to do this mostly because 1. limiting freedom comes with Germany's very obvious downside. 2. The belief of a lot of Americans is a Government of the US scale typically implements those things poorly. We have states that would comparable but in general the idea is the bigger the governmental body the dumber it and simpler their tasks need to be so that it can't mess it up.
  - jeffbee 6y ago
    That scans like a bunch of right-wing word salad. Germans would not be any better off if they each got an extra 20k/year and their health care and housing costs were also 20k/year higher. This is the core flaw of GDP, well-known among economists since GDP was invented. It does not measure well being.
    - DeonPenny 6y ago
      I didn't mean they would lose 20k in health and housing. They would still have that plus 20k. I was just simply explaining a different perspective. Also I don't think dismissing something that differs from your ideas is a good way of going about things. Regardless if it is right or not theres a reason why those idea subsist. I don't think that there is a mistake that cultures with both right and left ideas seem to thrive. I don't think our ancestors were dumb
thaumasiotes 6y ago
> if you look at gdp per capita growth in places like germany who have only grown from 45k to 47k since 2008. The US grew from 45k to 62k. I did a Google search for "germany gdp per capita 2008" and Google actually displays a graph of gdp per capita in USD since 1970 comparing the US, Germany, and some other country. The US is a smooth line that hiccups in 2008, at the same time German gdp per capita spikes. So that's an interesting year to pick as the point of comparison. But I'm also intrigued by what doing the comparison in USD appears to show. Smooth, managed growth for the US. Weird, jolty growth for Germany. This seems likely to be an artifact of the fact that US dollar-denominated GDP is fully controlled by the US, while German dollar-denominated GDP is controlled by, among other things, the exchange rate between dollars and Euros. (Or, if you go back far enough, dollars and deutschmarks.) This actually makes me think that you'd get a better picture of what's going on by comparing them in gold or some other commodity.
yokaze 6y ago
> How does that in anyway correlate to a better life. if you look at gdp per capita growth in places like germany who have only grown from 45k to 47k since 2008. The US grew from 45k to 62k If you adjust PPP and inflation with your chosen starting point (https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?end=2018&locations=US-DE&start=2008 https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?end=2...), Germany grew from 47.6k to 53.7k USD (+13%), while the US grew from 55.4k to 61.5k USD (+11%) until 2018 (which is the latest endpoint and makes an even decade). But why not look another decade back further (1998-2018) (https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?end=2018&locations=US-DE&start=1998 https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?end=2...): Germany (+115%), US (+91%).
- DeonPenny 6y ago
  In a globalised world I don't think PPP is good measure personally but thats just my 2 cent. Also from 1998 is bit hard cause germany was moving from a way lower base. Germany just became a whole country in 1990. The east germans had to do with a lot of that growth because there was basically so much to improve.

jeffbee 6y ago

The manner in which GDP per capita goes up is not helpful: rapid inflation of health care and housing costs. GDP per capita is not increasing over a short term in Germany and Austria but everyone has a home and health care.

DeonPenny 6y ago
I think GDP matter in that it reflects the ability of a country to create resource. How ever how each country feels like using it is their prerogative. I doubt German citizen would complain if they had another 20k per year on average. I think the issue is that values in those different countries are very different. Theres much less freedom in terms of housing and income in Germany which makes it easier to have equality of outcome. By the very definition of a free society the free-er you are to succeed, the free-er you are to fail and to the sadness of most people, the distribution of success is a pareto distribution and not a normal distribution . The usually doesn't want to do this mostly because 1. limiting freedom comes with Germany's very obvious downside. 2. The belief of a lot of Americans is a Government of the US scale typically implements those things poorly. We have states that would comparable but in general the idea is the bigger the governmental body the dumber it and simpler their tasks need to be so that it can't mess it up.
- jeffbee 6y ago
  That scans like a bunch of right-wing word salad. Germans would not be any better off if they each got an extra 20k/year and their health care and housing costs were also 20k/year higher. This is the core flaw of GDP, well-known among economists since GDP was invented. It does not measure well being.
  - DeonPenny 6y ago
    I didn't mean they would lose 20k in health and housing. They would still have that plus 20k. I was just simply explaining a different perspective. Also I don't think dismissing something that differs from your ideas is a good way of going about things. Regardless if it is right or not theres a reason why those idea subsist. I don't think that there is a mistake that cultures with both right and left ideas seem to thrive. I don't think our ancestors were dumb

thaumasiotes 6y ago

> if you look at gdp per capita growth in places like germany who have only grown from 45k to 47k since 2008. The US grew from 45k to 62k. I did a Google search for "germany gdp per capita 2008" and Google actually displays a graph of gdp per capita in USD since 1970 comparing the US, Germany, and some other country. The US is a smooth line that hiccups in 2008, at the same time German gdp per capita spikes. So that's an interesting year to pick as the point of comparison. But I'm also intrigued by what doing the comparison in USD appears to show. Smooth, managed growth for the US. Weird, jolty growth for Germany. This seems likely to be an artifact of the fact that US dollar-denominated GDP is fully controlled by the US, while German dollar-denominated GDP is controlled by, among other things, the exchange rate between dollars and Euros. (Or, if you go back far enough, dollars and deutschmarks.) This actually makes me think that you'd get a better picture of what's going on by comparing them in gold or some other commodity.

yokaze 6y ago

> How does that in anyway correlate to a better life. if you look at gdp per capita growth in places like germany who have only grown from 45k to 47k since 2008. The US grew from 45k to 62k If you adjust PPP and inflation with your chosen starting point (https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?end=2018&locations=US-DE&start=2008 https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?end=2...), Germany grew from 47.6k to 53.7k USD (+13%), while the US grew from 55.4k to 61.5k USD (+11%) until 2018 (which is the latest endpoint and makes an even decade). But why not look another decade back further (1998-2018) (https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?end=2018&locations=US-DE&start=1998 https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?end=2...): Germany (+115%), US (+91%).

DeonPenny 6y ago
In a globalised world I don't think PPP is good measure personally but thats just my 2 cent. Also from 1998 is bit hard cause germany was moving from a way lower base. Germany just became a whole country in 1990. The east germans had to do with a lot of that growth because there was basically so much to improve.