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> The US is a very rich country. > [...] on average US residents produce the most Of course that is true. > It's expected that US spending is the highest. A

> The US is a very rich country. > [...] on average US residents produce the most Of course that is true. > It's expected that US spending is the highest. And of course there is a connection here. But you are not necessarily rich, when you spend more. By definition you are rich when you have more. Americans often do not get more for spending more (see healthcare and others) so after spending they would actually often be poorer. Americans also tend to spend even if they actually do not have anything to spend.

pas 5y ago
> Americans also tend to spend even if they actually do not have anything to spend. Mostly because there are some mandatory luxuries, like having a car, student debt, health insurance, ridiculously expensive housing. Or just "the new iphone". > Americans often do not get more for spending more (see healthcare and others) so after spending they would actually often be poorer. https://randomcriticalanalysis.com/why-conventional-wisdom-on-health-care-is-wrong-a-primer/#rcatoc-diminishing-returns-to-spending-and-worse-lifestyle-factors-explain-americas-mediocre-health-outcomes https://randomcriticalanalysis.com/why-conventional-wisdom-o... > And of course there is a connection here. But you are not necessarily rich, when you spend more. By definition you are rich when you have more. I mean, the economic surplus is spent, on what is of course critical, but the vast riches produced year by year is there. As the link argues, lifestyle choices determine where that surplus is allocated to.
neither_color 5y ago
The discussion is about retail so I'd exclude healthcare and education. Retail-wise, with relatively low sales tax(no VAT, typically 5-10% sales tax) and highly competitive options we do have cheap abundance in the US. Isn't one of the main criticisms that we waste the most energy per capita? Fuel is cheap, electricity is cheap, electronics are cheap, food is cheap and portions are massive. When I travel the only thing I find comparatively cheaper in other countries is human services. So in places like Southeast Asia or Latin America you can afford a maid and a driver on an upper middle local salary but would still pay more for an imported cell phone than an American.

pas 5y ago

> Americans also tend to spend even if they actually do not have anything to spend. Mostly because there are some mandatory luxuries, like having a car, student debt, health insurance, ridiculously expensive housing. Or just "the new iphone". > Americans often do not get more for spending more (see healthcare and others) so after spending they would actually often be poorer. https://randomcriticalanalysis.com/why-conventional-wisdom-on-health-care-is-wrong-a-primer/#rcatoc-diminishing-returns-to-spending-and-worse-lifestyle-factors-explain-americas-mediocre-health-outcomes https://randomcriticalanalysis.com/why-conventional-wisdom-o... > And of course there is a connection here. But you are not necessarily rich, when you spend more. By definition you are rich when you have more. I mean, the economic surplus is spent, on what is of course critical, but the vast riches produced year by year is there. As the link argues, lifestyle choices determine where that surplus is allocated to.

neither_color 5y ago

The discussion is about retail so I'd exclude healthcare and education. Retail-wise, with relatively low sales tax(no VAT, typically 5-10% sales tax) and highly competitive options we do have cheap abundance in the US. Isn't one of the main criticisms that we waste the most energy per capita? Fuel is cheap, electricity is cheap, electronics are cheap, food is cheap and portions are massive. When I travel the only thing I find comparatively cheaper in other countries is human services. So in places like Southeast Asia or Latin America you can afford a maid and a driver on an upper middle local salary but would still pay more for an imported cell phone than an American.