4-20-05 - 2


On 1-3-05 I ranted about how poor Europe is, and people sent me a flood of mails in protest, and clarifying various points. I made it more clear in my mails that I was referring to actual consumer discretionary spending (eg. excluding health care, education, etc. just looking at the average consumer's power to buy discretionary goods). Well, the study here by Timbro puts some hard numbers on it. The summarizing figure for me is that purchasing power in the US is about $36k per capita, and in the EU it's $26k. Certainly the idea of looking at GNP or average salary or any raw numbers like that to compare countries is ridiculous, you have to look at purchasing power in terms of goods.

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old rants