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Yeah, this is entirely down to the explosive growth of low-GDP mostly-eastern-Europe[1] nations as they approach parity with the rest of the EU. The countries
by ajross 3y ago
Yeah, this is entirely down to the explosive growth of low-GDP mostly-eastern-Europe[1] nations as they approach parity with the rest of the EU. The countries that made up the "EU" of 2000 have generally done poorer than the USA[2] in GDP per capita growth.
Great data here if you want to explore: https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=US https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?location...
[1] And also Ireland, who have really done well the past two decades.
[2] The UK in particular really fell off its mark.
- Rinzler89 3y ago> And also Ireland, who have really done well the past two decades. Ireland was excluded form the original article statistics since it's skews the data a lot, due to all the multinational companies being HQ there. It's kind of like the Delaware of the EU.
- dzink 3y agoEspecially after Brexit.
- s_dev 3y agoIreland is certainly wealthy but not as wealthy as her GDP suggests. What is required is other measures like GNI, GNP et al. All I do these days is point out the limitations of GDP but people insist on using it everywhere for for any comparisons. Start using these and you'll see Ireland settle in around Denmark in terms of wealth.
- _1_1_1_1_1_1_ 3y ago[dead]
- disgruntledphd2 3y agoFirstly, I completely agree with your more general point. > Start using these and you'll see Ireland settle in around Denmark in terms of wealth. Secondly, as an Irish person who grew up during the 80s, this is phenomenally good. Ireland was so very poor when I was a kid, and has gotten so much richer. People actually move to Ireland for work! This is not something that has happened in the past few hundred years. We have lots and lots of problems, but they're mostly problems of success rather than those of failure.