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The data should also take into account average income or something similar. A quick search in Wikipiedia[1] shows that average wage in the USA is $65k, and the
by abheek_vimal 5y ago
The data should also take into account average income or something similar. A quick search in Wikipiedia[1] shows that average wage in the USA is $65k, and the UK is $47k, a ratio of ~1.38. Before the pandemic, the consumption per capita ratio for these 2 countries was ~1.33. Basically, people who earn more tend to spend more but not disproportionately so. So the actual trend is not as extreme as that plot makes it out to be.
This is not to say that there isn't an underlying problem.
[1] - https://en.wikipedia.org/wiki/List_of_countries_by_average_wage https://en.wikipedia.org/wiki/List_of_countries_by_average_w...