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Prosper

(761 posts)
Sat Nov 9, 2019, 06:09 AM Nov 2019

Why is USA ,the richest country in the world,10th

in GDP per capita. The people that took advantage of opportunity to succeed have taken their money out of the economy. Lacking money to invest in product for sale ventures our GDP suffers. Working class suffers because the people that succeeded through opportunity are now denying opportunity by not investing in products for sale businesses.

At one time the world clamored for Made in USA products. Products that were many times the costs of similar products made in other countries. What happened??? The successful took their money overseas to invest in factories to make cheaper products. That put people out of work here and the surplus of workers drove wages down. Incomes that shrank in the USA now had to shop price instead of quality. That put more people out of work and drove wages lower. That again raised the demand for cheaper foreign goods making investing
overseas attracting even more USA investing money.

Over seas did not take out jobs the wealthy here gave the jobs away. Reducing the USA standard of living, stagnating wages over 40 years and destroying opportunity.

Foreign countries did not take our jobs, our jobs were thrown at them by winners trying to make more money easier. Our country would be in prosperity if the winners did not quit the game, take their money and stagnate it or invest in overseas jobs.

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Spider Jerusalem

(21,786 posts)
1. The answer to why the US is 10th in GDP per capita is very simple
Sat Nov 9, 2019, 07:00 AM
Nov 2019

the top 9 are tiny countries or in some cases effectively city-states (the most populous is the UAE, which has fewer people than the NYC metro area) that either have a high concentration of finance/corporate/banking interests (Switzerland, Luxembourg, Macau, Hong Kong) or that are oil exporters (Norway, Kuwait, Qatar, UAE, Brunei). If NYC were a country it'd be in the top 5.

Prosper

(761 posts)
3. The ratio of mean to median wealth in the United States
Sat Nov 9, 2019, 08:53 AM
Nov 2019

is about 6.5 to 1. Half the people in the US make up about 1/6 of the wealth. 1978 is characterized as the best year ever. It was also the lowest wealth inequality. The US had the highest GDP in the world in 1978. In 1980, the American standard of living was the highest among the industrial countries, according to the OECD. In 2018 the US standard of living ranked 13.
I am inferring the standard of living and GDP per capita have declined since 1978/80 as the wealth inequality in the US widened.

gab13by13

(21,247 posts)
2. The USA is by far the richest country
Sat Nov 9, 2019, 08:05 AM
Nov 2019

If we add up the wealth of everyone in the US we get 106 trillion dollars. Second place China comes in at 64 trillion dollars.
So instead of dividing our population into 106 trillion if we use a median calculation, every US household is worth $66,000.
There are 16 countries who rank ahead of the US in median wealth. This is the statistic that is important and it's called income inequality.
Don't even say, look at the stock market, the top 10% are who have the most investments there.

Prosper

(761 posts)
5. gab13bygab13 said:So instead of dividing our population into 106
Sat Nov 9, 2019, 09:11 AM
Nov 2019

Into 106 trillion if we use a median calculation, every US household is worth $66,000.”

That is a mean calculation.

The median figure means half the US households are worth less than X and half the US households are worth more than X.

Sherman A1

(38,958 posts)
6. I believe that you are both asking the right question and the wrong question
Sat Nov 9, 2019, 09:12 AM
Nov 2019

I believe the answers are here.


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