4 ms·
That is pretty disastrous. 22% over 20 years is 1% per year. A few countries have done spectacularly well, but others have done incredibly badly (two have an a
by graemep 11mo ago
That is pretty disastrous. 22% over 20 years is 1% per year.
A few countries have done spectacularly well, but others have done incredibly badly (two have an actual decline over a 20 year period!).
- Swenrekcah 11mo agoKeep in mind this is adjusted for inflation. However I agree it should have been more during this period.
- pjc50 11mo agoUK seems basically flat: https://www.ons.gov.uk/economy/grossdomesticproductgdp/timeseries/crxx/ukea https://www.ons.gov.uk/economy/grossdomesticproductgdp/times... I can't find corresponding US numbers?
- frikskit 11mo agoBy “flat” you mean “similar” ?Because your link shows approx 22% increase.
- graemep 11mo agoThat shows a 21% increase. However, its not the same number at all. it is median real disposable income per head (person), whereas the the EU number is mean real income per household. I think it is probably correct to say the UK has broadly speaking performed about as well as obvious peers such as France and Germany over the last 20 years, but its not greater performance for any of them.
- lm28469 11mo agoThat's to be expected for developed countries, the US had about the same increase over the same period: https://fred.stlouisfed.org/series/MEHOINUSA672N https://fred.stlouisfed.org/series/MEHOINUSA672N Once you remove cooked numbers and account for inflation the real growth of developed countries is very slow.
- graemep 11mo agoI suspect most western countries are similar, but that is not the same number as it is median, whereas I think the number in the article is mean.
- Yujf 11mo agoIf I read this correctly it is (total household income) / population. This means that if countries get older, they get less working people so this number drops. This makes it difficult to draw conclusions.
- tlb 11mo agoOne conclusion is that they should start having more children or their economy will keep on dropping. An inverted population pyramid in a high-entitlement society will lead to economic collapse.
- _s_a_m_ 11mo agoYep, and that's in the aggregate. So some sectors got probably worse. Germany also has since forever now a domestic demand crisis. Austerity since the 90s and another boost in 2010 (Agenda 2010). Forced it on entire EU and hardcore on Greece, from which they never recovered.