Quote:
Originally Posted by AndrewJ
And yet if you look at GDP per person, we are way down.
( who doesnt believe wikipedia :-) )
http://en.wikipedia.org/wiki/List_of...%29_per_capita
Does this mean that whilst we may have it now, we probably cant afford to keep it???
Statistics and lists can tell you whatever you want to hear.
( as long as you use the correct list )
Andrew |
Hi Andrew,
Hard to say. Take the case of the USA. If GDP increases because all their millions of multi and mega millionaires makes lots more money, average wealth may increase, but median wealth can still go backwards.
On the other hand, when lots of production winds up more evenly distributed - providing the goose that lays the golden egg isn't killed off - even static GDP will increase median wealth.
One thing to remember is that it is GDP
per person rather than GDP
per adult. So, as Australia still has a higher birth rate than most other comparable western nations, our GDP per person figure will be lower relative to theirs for an equivalent GDP.
Cheers,
Renato