3 ms·
on the other hand. gdp is ~200 days of work. 1 day is 0.5% gdp. 1 hour (assuming 8hr day) is 0.06% gdp. gdp/capita is nearly us$90k. 1hr of work is >us$5k! it
by lazylizard 11mo ago
on the other hand. gdp is ~200 days of work. 1 day is 0.5% gdp. 1 hour (assuming 8hr day) is 0.06% gdp. gdp/capita is nearly us$90k. 1hr of work is >us$5k!
it might be more cost effective to expand public transport to transport every singaporean to where he/she needs to be on time, than to make them wait..
- eru 11mo ago> 1hr of work is >us$5k! Not all GDP is created by work. See https://fred.stlouisfed.org/series/LABSHPSGA156NRUG https://fred.stlouisfed.org/series/LABSHPSGA156NRUG to learn that our labour share of GDP is roughly 50%. And, of course, the average hides a lot of information about the distribution. Though even given all the caveats, your numbers still seem wrong to me. 90kUSD / 200 / 8 ~ 57 USD, not 5kUSD.
- amluto 11mo agoI’m guessing the comment you replied to confused 0.06% with 0.06.