461–470 of 767 posts
Meanwhile some Eurozone countries like Greece, Italy and Spain actually saw a decline.
Hard not to draw such conclusions when your set includes all the troubled countries and none of the fast growing ones.
Note this chart shows nominal dollars, not PPP-adjusted. The EU has certainly kept up with the US when looking at PPP GDP from 2008 to 2022: US grew from $14.8T to $25.5T EU grew from $14.3T to $24.3T What that means is that the prices of goods are inflated in the US compared to similar goods in the EU. That's all. Want something interesting? Look at China who grew from $10.0T to $30.3T over the same period (!) Sourc…
No one uses PPP for measuring growth, GDP PPP can increase whilst your economy contracts. PPP isn’t a good measure for population’s wealth or quality of life especially for developed economies either. The economy of the US is still twice that of the EU and its global purchasing power has also pretty much doubled.
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I don't understand this argument. If everyone has become more productive, why would wages rise? Wouldn't we see that as inflation then? I think the rise of productivity is more seen in the growth of the GDP
So if employees are more productive, you would naturally expect all of the benefits of that increased productivity to go to their employers? I'm curious as to your reasoning about why people do anything other than the absolute minimum to receive their paycheck.
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What is a "frame trap", and why do people get irrationally upset by the US doing well at something or the EU doing poorly? This post is about GDP growth. What has life expectancy got to do with it, and how are you contributing to any discussion? Has anybody here said that "GDP is the most important indicator"?
I actually think it's the opposite, I always see Americans getting really snarky about Europe, I could go back and find plenty of examples but I have better things to do. Personally I think average Americans have a hard time imaging a world where there is more to life than money. Ultimately whenever I see these "murica" centric posts, I remember them flying in emergency medical supplies from China and everybody being…
I'm responding to a (one of the many) cases of people being strangely upset and irrational about a simple fact about the US doing better in this one metric recently. There is no "opposite" about it, I never said it does not happen the other way around, I'm questioning why it is happening this way around in this thread. And again that is making people upset and bringing up other unrelated things, which is quite ironic really.
> Personally I think average Americans have a hard time imaging a world where there is more to life than money.
Personally I think it's sad that so many "educated and enlightened" people are okay with making vile accusations and generalizations about others they know nothing about.
I know a bunch of Americans and almost all are warm, friendly, generous. Some very driven, very few who struck me as being all about money. I feel sad that many have been to feel ashamed of themselves by this kind of casual bullying.
> Ultimately whenever I see these "murica" centric posts, I remember them flying in emergency medical supplies from China and everybody being upset about how the worlds greatest super power didn't have enough supplies for their own medical staff.
I don't quite understand what you're getting at. You're upset by the fact that the US economy measured by GDP grew much faster than the EU recently, but you take comfort from the fact that China manufactures a lot of things that other countries buy such as medical equipment and there were shortages of various goods during Covid. I don't know what to make of that but I'm sure there's some interesting psychology behind it.
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" GDP PPP can increase whilst your economy contracts. " Still, if PPP GDP increases, with all else being equal (eg. stable population) it would imply the standard of living is increasing. That is why PPP GDP captures a more accurate measure of the real world. Said another way, what truly matters isn't "GDP growth", but changes in purchasing power/quality of life.
>> it would imply the standard of living is increasing. In USA, GDP includes the explosion of numbers of hospital admin staffers, energy prices doubled, and production of munitions which are given to Europe. That GDP does not increase my quality of life.
I'm surprised at the number of people who are confidently arguing against mrb - they're exactly correct here. The point of PPP adjustments is to factor out the effect of having a strong currency, and the USD's status as reserve currency is exactly why the US GDP has been overtaking the EU. Adjust for what a dollar actually buys you domestically and the picture is far more muddled.
It also took fascism way further than Europe, so it kinda balances out.
Lol. Lmao. right wing parties in Europe regularly get 40% of the vote. And they would make Republicans seem like bleeding heart, diverse liberals in comparison. Marine lepen's party regularly calls for not just closing border but sending back uppity french citizens if they are Muslims lol. Europeans online just really like to ignore their own problems, it's almost amazing.
This is a bit of a frame trap. Here’s another metric: ==2021== Life expectancy in EU: 80 Life expectancy in US: 76 ==Rolling back to 2008== Life expectancy in EU: 79 Life expectancy in US: 78 What’s the point? Maybe GDP isn’t the most important indicator. The US can double it’s GDP by making healthcare more expensive and extracting every last dime from the elderly, but can it actually improve quality of life for peop…
These stats drive me up the wall because the US is more diverse than every single European country . The life expectancy in California is 81 and in Alabama it’s 74. That’s the difference between the UK and like, Latvia. This matters because when you look at these crude aggregate stats, people naively assume that it means that everything is a bit worse but the actual American story is usually more like broad prosperit…
by what metric?
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What, specifically, do you mean by "The USA offers you more potential?"
More opportunity. More capacity to improve your lot in life. More luxury. More space. It goes on. There’s a reason millions more people from the EU live in the USA than the other way. Or why there’s a line 100s of millions long to come to the USA. Nowhere is perfect but as a world traveler I’d say the USA is pretty great. What I have found most interesting over the last 20 years is that the conversation has moved fro…
Its more of a matter of whether its popular to do culturally, there is also freedom of movement and trade between all the EU/EEA/EFTA nations. If your home country makes it hard to start a limited liability company, you can form one in the country+state that makes it easy, and transact and bank in your home country. Just like in the US.
and you should talk with different people in your travels. People comfortable in their developed nation are not trying to come to US and would be confused at the suggestion as they only focus on news about marginalized groups in the US, no different than an American would be confused about someone assuming they have a fondness for China before that American rattles off about a dozen civil rights things that wouldn't actually affect privileged people in their equivalent socioeconomic bracket there, as if it defines the whole country or a day to day experience.
its pretty easy to see through this conditioning: American exceptionalism relies upon being compared to the most mismanaged and authoritarian places in the world, it ignores the existence of developed nations with balanced budgets, social safety nets, with similar taxes.
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Ah yes, the good ol' trickle-down economics.
It's very difficult to argue in good faith "trickle-down" economics was/is a failure. A rising tide obviously raises all ships, including the nation's poorest. To create vast wealth generally requires vast resources, which requires vast amounts of people. Behemoths the size of Amazon, Walmart, Microsoft, Google, et al employ significant chunks of the population - and not just directly. Trickle-down doesn't mean every…
Complete nonsense. You can look at the real-world effects.
Or the economists, who have done so and do not support it at all: https://en.wikipedia.org/wiki/Trickle-down_economics#Economi...
The citations that you want are linked there. Are you seriously saying that the whole "Economics" section of the Wikipedia article on trickle-down economics is "not good faith"?
Trickle down is a failure at its stated aims. It does not work. It never worked, and now people have noticed.
> A rising tide obviously raises all ships
A metaphor proves nothing. I might as well say "when money is concerned, no it doesn't: it's every man for himself" and leave it at that.