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KMA-628 · 03-14-2005, 10:50 AM

NCB -

Good find on the article, it shows the basic flaw in using GDP as an economic indicator.

While the EU GDP might be greater than the GDP of the US, the per-capita GDP would be the more correct number to use for a comparison.

All EU member countries, minus one (Luxemburg) have significantly lower per-capita GDP than the US (Which is #2 in the world). While I couldn't find an overall "per-capita GDP" for the EU, if you were to average all EU member countries, it would fall well below the per-capita GDP of the U.S. (which is an average of the 50 states). LINK

It is a bogus comparison.

Another economic indicator is the rate of inflation. Almost all EU member countries have a higher rate of inflation than the US (stats at the same link as above).

Almost every economic comparison I looked at, comparing the EU with the U.S., puts the U.S. on top (using averages, since there aren't "total" EU numbers yet).

03-14-2005, 10:50 AM	#129 (permalink)
KMA-628 ....is off his meds...you were warned. Location: The Wild Wild West	NCB - Good find on the article, it shows the basic flaw in using GDP as an economic indicator. While the EU GDP might be greater than the GDP of the US, the per-capita GDP would be the more correct number to use for a comparison. All EU member countries, minus one (Luxemburg) have significantly lower per-capita GDP than the US (Which is #2 in the world). While I couldn't find an overall "per-capita GDP" for the EU, if you were to average all EU member countries, it would fall well below the per-capita GDP of the U.S. (which is an average of the 50 states). LINK It is a bogus comparison. Another economic indicator is the rate of inflation. Almost all EU member countries have a higher rate of inflation than the US (stats at the same link as above). Almost every economic comparison I looked at, comparing the EU with the U.S., puts the U.S. on top (using averages, since there aren't "total" EU numbers yet). __________________ Before you criticize someone, you need to walk a mile in their shoes. That way, if they get angry at you.......you're a mile away.......and they're barefoot.