American economic dominance

[All-American]

Are the poverty rates being measured with the same methodology on both sides of the Atlantic?

No, we use the imperial system.

[Pelado]

Does a rising tide lift all boats? Yes.

As I already mentioned, the poorest state in the US (Mississippi) has a higher per capita GDP than the UK. It also has a lower poverty rate: 18% vs 21%. EU average poverty rate also = 21%. US average = 10.6%.

Are the poverty rates being measured with the same methodology on both sides of the Atlantic?

[Jeff Lebowski]

A relevant youtube video on the subject. Hits a lot of the same points as the Accidental Superpower (probably plagiarizes it tbh).

https://www.youtube.com/watch?v=0O2EolPa2NM

Very interesting. Thanks.

[Donuthole]

Does a rising tide lift all boats? Yes.

It lifts all the ones that are floating, that's for sure.

[Jeff Lebowski]

I just read the first page, Jeff rightly celebrates GDP. Frank rightly wonders if rising tides truly make all boats rise. This is the debate as old as the Chicago School.

My personal opinion is that although GDP doesn't paint a perfect picture of wealth and prosperity, all those social safety nets have to be paid for--with tax dollars. Tax revenues increase when more wealth is created; ergo, you want social safety nets and prosperity, you need to a growing economy.

The only real debate--in my simple mind--is tax policy. It doesn't seem equitable that billionaires (we'll soon be saying trillionaires) can structure taxes in a manner that they have an ETR near zero, while I really can't do much to get it below 30%. But, I live a good life. I'm sure those who make a lot less than I do are really feeling the pinch.

Does a rising tide lift all boats? Yes.

As I already mentioned, the poorest state in the US (Mississippi) has a higher per capita GDP than the UK. It also has a lower poverty rate: 18% vs 21%. EU average poverty rate also = 21%. US average = 10.6%.

[Green Monstah]

I just read the first page, Jeff rightly celebrates GDP. Frank rightly wonders if rising tides truly make all boats rise. This is the debate as old as the Chicago School.

My personal opinion is that although GDP doesn't paint a perfect picture of wealth and prosperity, all those social safety nets have to be paid for--with tax dollars. Tax revenues increase when more wealth is created; ergo, you want social safety nets and prosperity, you need to a growing economy.

The only real debate--in my simple mind--is tax policy. It doesn't seem equitable that billionaires (we'll soon be saying trillionaires) can structure taxes in a manner that they have an ETR near zero, while I really can't do much to get it below 30%. But, I live a good life. I'm sure those who make a lot less than I do are really feeling the pinch.

[All-American]

A relevant youtube video on the subject. Hits a lot of the same points as the Accidental Superpower (probably plagiarizes it tbh).

https://www.youtube.com/watch?v=0O2EolPa2NM

[Copelius]

Cope.

I have no opinion on the matter.

[Moliere]

lol ... it is a measure of total economic output, not that "Americans" make a ton of money. The more accurate statement is American companies make a ton of money. Most Americans incomes are stagnant:

Wages are falling. Wealth is surging ...
https://www.nytimes.com/2026/06/13/b...lth-wages.html

There is a ton of data that Americans make a lot more money than most countries. In Europe it might only be Switzerland and maybe Norway that have a higher median wage, but I may be misremembering since it’s been awhile since I’ve researched it.

[tooblue]

Cope.

6 7

[Jeff Lebowski]

Brilliant—you figured out that a strong GDP does not equate or reflect social well-being :thumbs up:

Cope.

[tooblue]

Your position is that GDP is not a good measure of economic health. Yet your proof is that GDP is not a measure of human well-being. Those two things are not the same. What are you trying to assert here? Because it does not seem like your data matches your conclusion.

Brilliant—you figured out that a strong GDP does not equate to or reflect social well-being :thumbs up:

Oh, sorry—edit: USA USA USA!

[All-American]

That joke feels pretty lazy. Doesn't seem to be backed by anything either. You are a professor, right?

Professor? No. I'm too dumb. Ducks don't even bother throwing bread at me because they think I'll choke on it.

[falafel]

On the subject of the next elections, see this from the Bee:



https://babylonbee.com/news/reflecti...rbQ2RdW60cZt7w

That joke feels pretty lazy. Doesn't seem to be backed by anything either. You are a professor, right?

[falafel]

LOL ... Jeff sounds like Sally Field at the Oscars: "Right now, you like me!"

Did a quick search on wether GDP is a good measure of economic health, and here is the AI summary:

"Gross Domestic Product (GDP) measures a nation's total economic output but fails to reflect actual societal well-being. Its primary pitfalls include ignoring income inequality, hiding environmental degradation, excluding unpaid labor, treating natural disasters as economic boons, and failing to account for the true value of modern digital services."


GDP Is Not a Measure of Human Well-Being
https://hbr.org/2019/10/gdp-is-not-a...man-well-being

And then there is this:

Americans Are Leaving the U.S. in Record Numbers
https://www.wsj.com/us-news/american...ation-a5795bfa

Your position is that GDP is not a good measure of economic health. Yet your proof is that GDP is not a measure of human well-being. Those two things are not the same. What are you trying to assert here? Because it does not seem like your data matches your conclusion.