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Finland (if that's who we're talking about) GDP per capita is nearly $20k behind USA (Sweden's only $10k behind). They're not so much wealthy as they have a dif

by flir 3y ago

Finland (if that's who we're talking about) GDP per capita is nearly $20k behind USA (Sweden's only $10k behind). They're not so much wealthy as they have a different distribution curve.

RandomLensman 3y ago
You could also look to Switzerland or Norway - both higher GDP than US and a lot less hours worked per year on average.
- circlefavshape 3y ago
  The OP stated their income in SEK, so probably their work is in Sweden. FWIW 50k SEK per month is approx US$5k per month
  - RandomLensman 3y ago
    Yes, but I think the discussion was more around is this something only the Nordics could have, and if so, why. My point is that it is not limited to Nordics, doesn't necessarily come with lower GDP per capita as other small economies can do that, too.
- defrost 3y ago
  Both small countries with massively profitable driving industries; Norway, obviously oil rich which drives the financial, legal, and IT secondary industries and makes high returns for the citizens. Switzerland .. it's literally gold moving in and out of bank vaults that appears to be the biggest driver of the countries economic makeup: https://atlas.cid.harvard.edu/countries/41/export-basket https://atlas.cid.harvard.edu/countries/41/export-basket No disrespect to either country but there's nothing like watching oil flow past in a pipe or bars of gold mature like wine in a barrel to increase wealth while reducing total hours "working".
  - RandomLensman 3y ago
    The US has a lot of natural resources, too, and gold isn't really driving the Swiss economy (it has a few large commodity trading houses hence a large gross but small net flow), the largest net trading flow for Switzerland is around pharma and chemicals (in total ~50%) and the financial sector's share of GDP has been around 12%.
  - piva00 3y ago
    > No disrespect to either country but there's nothing like watching oil flow past in a pipe or bars of gold mature like wine in a barrel to increase wealth while reducing total hours "working". Not like Texas' and California's oil? Or New York's finance industry? Zoom into the parts/states of the USA actually generating wealth and you will see pretty similar patterns: natural resources (Norway's case), finance (Switzerland), heavy and precision industry (Germany).
FirmwareBurner 3y ago
SEK in used in Sweden not Finland, and either way, the US might be richer, but that's just one country, while there's hundreds more countries that are poorer than those where people don't have the opportunities for WLB as in Sweden or Finland hence my survivorship bias comment. Always cherry-picking the Nordics to win any socio-economic argument seems like HN's favorite placard card. Pretty sure there are also unionized workers in the US working for state projects who also barely clock in any hours while making good money. See how cherry picking works? People in Mexico work far more hours than the Nordics and the US. Same in Eastern Europe. And Asia. Why is that? Why don't they just work 20h-30h/week for $5k wages?
- flir 3y ago
  Good point on SEK. I just saw "telecoms" and my brain shut down.

by flir 3y ago

Finland (if that's who we're talking about) GDP per capita is nearly $20k behind USA (Sweden's only $10k behind). They're not so much wealthy as they have a different distribution curve.

RandomLensman 3y ago

You could also look to Switzerland or Norway - both higher GDP than US and a lot less hours worked per year on average.

circlefavshape 3y ago
The OP stated their income in SEK, so probably their work is in Sweden. FWIW 50k SEK per month is approx US$5k per month
- RandomLensman 3y ago
  Yes, but I think the discussion was more around is this something only the Nordics could have, and if so, why. My point is that it is not limited to Nordics, doesn't necessarily come with lower GDP per capita as other small economies can do that, too.
defrost 3y ago
Both small countries with massively profitable driving industries; Norway, obviously oil rich which drives the financial, legal, and IT secondary industries and makes high returns for the citizens. Switzerland .. it's literally gold moving in and out of bank vaults that appears to be the biggest driver of the countries economic makeup: https://atlas.cid.harvard.edu/countries/41/export-basket https://atlas.cid.harvard.edu/countries/41/export-basket No disrespect to either country but there's nothing like watching oil flow past in a pipe or bars of gold mature like wine in a barrel to increase wealth while reducing total hours "working".
- RandomLensman 3y ago
  The US has a lot of natural resources, too, and gold isn't really driving the Swiss economy (it has a few large commodity trading houses hence a large gross but small net flow), the largest net trading flow for Switzerland is around pharma and chemicals (in total ~50%) and the financial sector's share of GDP has been around 12%.
- piva00 3y ago
  > No disrespect to either country but there's nothing like watching oil flow past in a pipe or bars of gold mature like wine in a barrel to increase wealth while reducing total hours "working". Not like Texas' and California's oil? Or New York's finance industry? Zoom into the parts/states of the USA actually generating wealth and you will see pretty similar patterns: natural resources (Norway's case), finance (Switzerland), heavy and precision industry (Germany).

FirmwareBurner 3y ago

SEK in used in Sweden not Finland, and either way, the US might be richer, but that's just one country, while there's hundreds more countries that are poorer than those where people don't have the opportunities for WLB as in Sweden or Finland hence my survivorship bias comment. Always cherry-picking the Nordics to win any socio-economic argument seems like HN's favorite placard card. Pretty sure there are also unionized workers in the US working for state projects who also barely clock in any hours while making good money. See how cherry picking works? People in Mexico work far more hours than the Nordics and the US. Same in Eastern Europe. And Asia. Why is that? Why don't they just work 20h-30h/week for $5k wages?

flir 3y ago
Good point on SEK. I just saw "telecoms" and my brain shut down.