Real question is why are Europeans not alarmed about it? Do they think their systems are sustainable by current economy?
This is the most useless plot I have ever seen
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Europe has always been behind. Soon, an American McDonalds cashier will earn the same amount as a European doctor. Liberal capitalism is the key.
I’d rather be a bit poorer than having my employer decide if I get access to healthcare or not.
How do you account for the fact that EU members have changed over this period?
Here we go again the metrics comparing us to the USA are really pointless as we have intrinsically different economies. The USA has a higher gdp per capita than Europe statistically because stats are mathematics and a lump sum of money gets evened out over the total population. It hides the fact that USA has an avalanche of 55+ homeless people without pensions or per capita a much bigger part of the population holding down 2 or three jobs. Or the average USA citizen has more spendable cash each month than the average EU citizen because of our tax burden which then doesn’t take into account that they have to use their spendable cash on daycare, school, university, health insurance, public services etc which leaves them in a much different position.
The only purpose of these silly metrics is to promote casino capitalism and Ayan Randian financial philosophy which has been rejected in Europe. Quality of life for average citizen is actually more important than shareholder value for a few billionaires who appear on the covers of magazines
It is very hard to say what those numbers mean in reality, also there are huge difference between US states or european countries, which again is hard to know what those numbers actually mean in reality.
Up to like 1970s maybe USA was like better but now no matter how great their economy on paper looks to be based on what to me is an very abstract number, it is hard to ignore how badly it seems to failling in other areas compared to the position it used to have like 50 years ago compared to now. It is very clear the difference between USA and euoprean countries is much larger than just the gdp, USA is simply not just a richer/better version of europe and we should not just base how good a country is doing on its gdp per capita.
[deleted]
I feel like disposable incomes would be the best metric to use. GDP per capita doesn’t necessarily reflect material wealth per person imo
It’s been a while since I dealt with these things but if memory serves right the major factor differentiating US and EU GDP p/c is the number of hours worked per full time employee. that skews GDP p/c in favor of the US.
PPP doesn’t work with the US since their GDP and GDP PPP is always identical.
Why not nominal?
you can’t describe “falling behind” using one numeric metric
EU is like that silent classmate…. ❤️🇪🇺
And yet.. US is still a shit-hole country when compared to most modern western countries.
Indeed – if you factor in Europe’s collapsing population, Europe looks like it’s doing great.
This data includes all EU-27 countries, even in 1990. So the 1990 figures include data for incredibly-poor-at-the-time Eastern European countries like Poland or Estonia.
Of course GDP is going to bounce when you are including incredibly low GDP figures for 100 million people living in countries that in the 90s were undergoing post-Soviet economic collapse.
The real issue is if you look at Western Europe or even the Eurozone (those that aren’t distorted by base effects), then you see a large erosion versus USA.
We don’t have to run away from ambulances, we still have plenty of holiday time, our houses are still affordable in most of EU.
Sure if you pick and choose
The fact remains that if a software developer moves to the US his salary is triple, he has much more disposable income, bigger house, cheaper car and services in general, ect…
Saying that Europe is not falling behind the US and the developed countries in Asia is the same as closing your eyes and saying that you can’t see. Let go of your pride and don’t trust what the government want you to think, be real
21 comments
Do you have a link?
[Yes, it is.](https://pbs.twimg.com/media/GMeurLGXoAAMH9O?format=jpg&name=medium)
[You bet it is.](https://pbs.twimg.com/media/GMVcrV6WUAAjQP-?format=jpg&name=large)
Real question is why are Europeans not alarmed about it? Do they think their systems are sustainable by current economy?
This is the most useless plot I have ever seen
[removed]
Europe has always been behind. Soon, an American McDonalds cashier will earn the same amount as a European doctor. Liberal capitalism is the key.
I’d rather be a bit poorer than having my employer decide if I get access to healthcare or not.
How do you account for the fact that EU members have changed over this period?
Here we go again the metrics comparing us to the USA are really pointless as we have intrinsically different economies. The USA has a higher gdp per capita than Europe statistically because stats are mathematics and a lump sum of money gets evened out over the total population. It hides the fact that USA has an avalanche of 55+ homeless people without pensions or per capita a much bigger part of the population holding down 2 or three jobs. Or the average USA citizen has more spendable cash each month than the average EU citizen because of our tax burden which then doesn’t take into account that they have to use their spendable cash on daycare, school, university, health insurance, public services etc which leaves them in a much different position.
The only purpose of these silly metrics is to promote casino capitalism and Ayan Randian financial philosophy which has been rejected in Europe. Quality of life for average citizen is actually more important than shareholder value for a few billionaires who appear on the covers of magazines
It is very hard to say what those numbers mean in reality, also there are huge difference between US states or european countries, which again is hard to know what those numbers actually mean in reality.
There are clearly things that tell USA is not doing as well as the economic numbers are to tell us, like [USA used to have similar or higher life expectency](https://data.oecd.org/healthstat/life-expectancy-at-birth.htm) than europe to around 1980s-1990s, now it is lower, same is[true for hours worked, americans used to work less hours than europeans up to like 1970s](https://data.oecd.org/emp/hours-worked.htm), now it is opposite.[Also USA co2 per capita is still very high](https://data.oecd.org/air/air-and-ghg-emissions.htm) and overall [enviromental damage american consumption does seems to be worse per capita than most european countries](https://overshoot.footprintnetwork.org/how-many-earths-or-countries-do-we-need/). [USA do seems to do well in productivity per hour, but there are european countries around the same level.](https://data.oecd.org/lprdty/gdp-per-hour-worked.htm)
Up to like 1970s maybe USA was like better but now no matter how great their economy on paper looks to be based on what to me is an very abstract number, it is hard to ignore how badly it seems to failling in other areas compared to the position it used to have like 50 years ago compared to now. It is very clear the difference between USA and euoprean countries is much larger than just the gdp, USA is simply not just a richer/better version of europe and we should not just base how good a country is doing on its gdp per capita.
[deleted]
I feel like disposable incomes would be the best metric to use. GDP per capita doesn’t necessarily reflect material wealth per person imo
It’s been a while since I dealt with these things but if memory serves right the major factor differentiating US and EU GDP p/c is the number of hours worked per full time employee. that skews GDP p/c in favor of the US.
PPP doesn’t work with the US since their GDP and GDP PPP is always identical.
Why not nominal?
you can’t describe “falling behind” using one numeric metric
EU is like that silent classmate…. ❤️🇪🇺
And yet.. US is still a shit-hole country when compared to most modern western countries.
Indeed – if you factor in Europe’s collapsing population, Europe looks like it’s doing great.
This data includes all EU-27 countries, even in 1990. So the 1990 figures include data for incredibly-poor-at-the-time Eastern European countries like Poland or Estonia.
Of course GDP is going to bounce when you are including incredibly low GDP figures for 100 million people living in countries that in the 90s were undergoing post-Soviet economic collapse.
The real issue is if you look at Western Europe or even the Eurozone (those that aren’t distorted by base effects), then you see a large erosion versus USA.
We don’t have to run away from ambulances, we still have plenty of holiday time, our houses are still affordable in most of EU.
Sure if you pick and choose
The fact remains that if a software developer moves to the US his salary is triple, he has much more disposable income, bigger house, cheaper car and services in general, ect…
Saying that Europe is not falling behind the US and the developed countries in Asia is the same as closing your eyes and saying that you can’t see. Let go of your pride and don’t trust what the government want you to think, be real