If Sweden was a U.S. state, how rich would it be? (HINT: Not Very)

The Claremont Institute ^ | December 7, 2004 | Joey Tartakovsky

[tomjohn77]

Norwegian. Or what we call it Norsk. Kingdom of Norway. I love the Monarchy

[tomjohn77]

I love to go to Ireland. All my friends want to do that to. Some have done it already. Much better than filthy England

[tomjohn77]

I love facts numbers and reading about other countries. I read all the stats I find and compare. People in my class called me the politician in high school. Its wso interesting to compare and to see facts in different perspectives

[americanbychoice2]

Used to go to Stavanger all the time. Did business with those "Filthy, capitalist, American Oil companies". :)
Of course, those were the days prior to your country getting all the OIl revenue. Taxes were unbelievable.

[tomjohn77]

well I love finance and capitalism. I have gone to business school

[Yardstick]

Nice post.

Here's my 2 cents: parks are nice, but so are big back yards.

[Natural Law]

I think the point is that Ireland is the richest, per capita, in Europe. Ireland is in the EU dog house because it has adopted American style low tax rates that have resulted in the fastest economic growth in the EU.

[tomjohn77]

strange that so many people are running there own businesses here. Its not that bad at all. One of the richest men in Norway acctually went back to Norway from the states because of the high taxes over there on business

[tomjohn77]

I know people in my small home town that drive Porches, one guy has a 1 million dollar boat etc.

[tomjohn77]

BMW, Benz and Audis is all common.

[americanbychoice2]

Here, Porches are normally firmly attached to our homes.
I haven't heard of any "Porche" trailers yet. :)

[americanbychoice2]

Here in Florida, Million dollar boats are everywhere.
We don't even notice them anymore.

[AlexW]

"Yes, the individual standard of living is much less than here, but the Europeans I know would say (if you could get them to admit it) that the quality of life was better"

Well, as much as I love my country, USA, I am 60, and ready to live the next number of years in central/east Europe. I need a change in culture and landscape, and I don't need 2 cars and all the perks of the Joneses.
As of this past Tuesday, I am visiting in Budapest.
The central and eastern areas have a lot to gain, and living here is not so hectic as in the US.
I just walked across the street and bought a good bottle of red wine for about $3 US !
Where I live in the US, I have to drive 20 miles to pay $12
for a jug of Carlo Rossi, haha.

[snowsislander]

The U.S. per capita income is now 55% higher than the EU-15 average, and 50% higher than Japan’s.

These statistics are just about meaningless without context. For instance, Japanese hourly wages in September of 2004 (274,873 yen for an average of 151.2 hours at 102 yen/dollar = $17.82 per hour) were just slightly above those in the U.S. in July of 2004 ($17.75 per hour). Per capita income and PPP rates are indeed somewhat indicative, but fail to take into account many important differences, from cultural to economic.

And income per capita is less useful when understanding wages than just average wages, and neither tells you anything about taxes or the relative cost of living. I think household income is one of the better measures for understanding how people live, particularly when you have good figures for the number of adults and children per household. Savings rates can give you a better idea of either of the disposable income (or at least the frugality) of a nation. Other factors worth looking at are the average retirement age and retirement income.

I remember reading a bit of this study when it first came around, and I wasn't overwhelmed at the time by it. Counting toasters and microwaves, both of which are inexpensive consumer items no matter where you live in the 1st world, takes into no account cultural differences about such items. I think such measures are fairly specious. Likewise, the rate of automobile ownership is going to vary a lot depending on how necessary such is. In the rural U.S., it is more desirable to have more vehicles than it is living in Manhattan. Living in central Tokyo, an automobile is more of a nuisance than an aid.

[JeffersonRepublic.com]

"But Norway will do for me."

Are you Norwegian?

My Grandmother was Norwegian, and she still pushes Norwegian culture on the family. This is a good thing. Norwegian pride is amazing, and it runs strong in my family even though most of us have never even been there.

Holtz
JeffersonRepublic.com

[americanbychoice2]

I agree with you, everything is relative.

[epow]

I drink real coffee, fresh ground every morning from relatively inexpensive ($7/lb) beans. Occasionally, I will splurge for double that to enjoy my favorite Sumatra Dark.

Let the Eurotrash have their overrated and overpriced coffee, I'll take an AMERICAN grown and roasted premium grade organic Kona over theirs anytime. IMH but biased opinion, a medium-dark roast premium organic Kona from the big island of Hawaii is the very best of the best.

[americanbychoice2]

............and don't forget to chew macademia nuts while you are at it?

[kk22tt]

Agreed! They try to slip it in as a de facto basis for discussion. Thanks for mentioning this.