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It may not be very replicable on a global basis, but given the person you replied to mentioned the US: The US has significantly higher average salaries than Nor
by vidarh 3y ago
It may not be very replicable on a global basis, but given the person you replied to mentioned the US: The US has significantly higher average salaries than Norway, and so it is very much valid to raise the issue of what the US is doing with the wealth it creates.
- mejutoco 3y agoHigher average in itself does not mean that much without taking into account Purchase Power. From this https://worldpopulationreview.com/country-rankings/purchasing-power-parity-by-country https://worldpopulationreview.com/country-rankings/purchasin... it seems US has about a 10x PPP difference, so your main point stands.
- vidarh 3y agoThe 10x there compares local currency to USD. Given the NOK to USD exchange rate, a 10x PPP difference between NOK and USD means Norway and the US are near parity in terms of purchasing power in USD. Actually, the salaries are now much closer than I thought, so depending on exactly which measures you use I might well have been wrong that US salaries are (still) much higher than Norwegian ones. The gap used to be fairly huge.