Income-wise difference is significantly less when adjusted for PPP, and (this is from a decade ago but I can't find anything much more recent that goes into com

Income-wise difference is significantly less when adjusted for PPP, and (this is from a decade ago but I can't find anything much more recent that goes into comparing countries) Jones and Klenow (2016) says: > Average Western European living standards appear much closer to those in the United States (around 85 percent for welfare versus 67 percent for income) when we take into account Europe’s longer life expectancy, addi- tional leisure time, and lower inequality. Jones, Charles I.; Klenow, Peter J. (September 2016). "Beyond GDP? Welfare across Countries and Time". American Economic Review. *106* (9): 2426–2457. https://doi.org/10.1257/aer.20110236 https://doi.org/10.1257/aer.20110236. ISSN 0002-8282. S2CID 1352951.