Explain the economics of this to me. How did per person income in the US triple, but everyone is poorer and more economically precarious? Even elites these days seem terrified that their children will slip down the ladder into the great void, and everything is objectively more shit, but doesn't this say we are three times richer?I don't care about the Japan part. As far as I can tell, Japan is mostly the same except for having not enough babies.It makes me think GDP is just a random number they shit out to justify whatever it is they are doing.
>>62523527Euro and Japan are behind in tech compared to the US and even South Korea.
...op...do you not realize that per capita gdp is just the spending divided by the number of people and not like the median or mode spending per person? In other words it doesn't indicate WHO the money comes from?
Pic related is real GDP, already corrected for inflation allegedly. How the fuck are we 71% richer than right before 9/11?Where did all the fucking money go? How did GDP per person increase 71% (despite mass migration and mass retirement) but then real median wages barely went up according to the same source?
>>62523545Right, but then why do politicians constantly point to it, define recessions in terms of it, get people to vote based on it, etc., when it can go up and up while life gets objectively shittier for everyone?
>>62523527How is the EU even defined for this chart? The EU has expanded to include a lot of new (relatively poor) countries since 1995
>>62523527I do think american have great salaries and have money money then others now.
>>625235271. GDP is a bad metric of overall quality of life. It literally is a metric of aggregate sales in an economy, and tells you nothing about how people actually live, or indeed, metrics like aggregate production of goods and services, quality of consumer goods, life expectancy, government corruption, the regulatory environment of a country, property rights, racial demographics, unemployment, underemployment, property ownership, etc. JFK summarized it best: "It tells us everything but [what matters]". 2. The US is in a K-Shaped economy. This is a fancy way of saying "the rich are getting richer and the poor are getting squeezed harder." Japan, by contrast, has a smaller divide between rich and poor, and the poorest people in Japan enjoy a better quality of life than the poorest people in the US. America might have the richest people in the world but it's rapidly turning into a technocratic open-air prison designed to siphon all wealth into the hands of a small cadre of elites. >>62523547>Where did all the fucking money go?It went to your social betters. Did you already forget how the entire financial industry took a massive bailout, paid for by the taxpayer?
>>62523561Because people (especially Americans) are statistically illiterate. You need to lead the plebs around in a democracy.
>>62523536in ads*
>>62523527>mistakes GDP for personal incomeThis is too retarded to explain
>>62523664
>>62523626They do, however, the US has about the same productivity as northern Europe, so the US' higher salaries are mainly due to lower taxes and more hours worked.
