Fraser Nelson, over at the Spectator, has a little post about how the UK, Britain (the native home for both of us), is actually poorer than all but one of the US States. Tucking in right behind Alabama and just above Mississippi. Despite the fact that he once fired me [...]
The PPP adjustment is going to inflate the values in low cost of living states/nations; cost of living correlates pretty well with average income (i.e. don’t travel to Switzerland unless you like spending money), which means all those eastern European countries and southern states with lower average incomes are going to get a leg up on central/western Europe.
The PPP adjustment is going to inflate the values in low cost of living states/nations; cost of living correlates pretty well with average income (i.e. don’t travel to Switzerland unless you like spending money), which means all those eastern European countries and southern states with lower average incomes are going to get a leg up on central/western Europe.
We’re approaching BadEconomics territory