2 ms·
This is why GDP isn't a good measurement of the wealth of citizens. Americans get paid more but also pay more for things. Even if we assume the two perfectly ca
by jerlam 6mo ago
This is why GDP isn't a good measurement of the wealth of citizens. Americans get paid more but also pay more for things. Even if we assume the two perfectly cancel each other out, the net result is the same, but GDP is higher.
- globular-toast 6mo agoGDP is not and never has been a measure of wealth. It's a measure of a country's output. Higher GDP could just mean you're working longer and harder.
- hunterpayne 6mo agoWhich is why we also publish a median (50th percentile) per capita (per person) number too. And its a measure of income, not wealth.