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It'd be interesting to see more countries added, and not just UK, France, Italy, and Greece. The UK is different in that it is no longer in the EU and never was
by JW_00000 6y ago
It'd be interesting to see more countries added, and not just UK, France, Italy, and Greece. The UK is different in that it is no longer in the EU and never was in the Eurozone. Italy and Greece suffered badly from the Eurocrisis. What about Germany, Poland, the Nordic countries? Or just an EU average?
Also, are these figures adjusted for PPP? (And can you therefore make a blanket statement such as "The average European is about a third or more worse off than the average American"?) I'm going to guess not: [1] and [2] compare the GDP per capita without and with adjustment for PPP between the US and France. The first (no PPP adjustment) shows how France plateaued after 2008, while the US kept increasing. The second shows that both kept increasing at the same rate (albeit with France's figures consistently 20% lower than the US).
By the way as a European I don't disagree that the EU's (average) economy has fared worse in the last 10 years than the American economy. But these numbers are too simplistic to find out what the underlying causes are.
[1] https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=FR-US https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?location...
[2] https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?locations=FR-US https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?locat...
[3] https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=US-UK-FR-IT-GR-DE-EU https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?location...
[4] https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?locations=US-UK-FR-IT-GR-DE-EU https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?locat...
[3] and [4] are those same graphs for the countries in the article + Germany + EU average.