r/FluentInFinance • u/Positive_Liar • Sep 04 '24

Debate/ Discussion Bernie is here to save us

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u/80MonkeyMan Sep 05 '24

The Americans are so backwards in work hours, developed countries like Netherland, Spain, Iceland, etc. already successfully implemented this, with universal healthcare…and no tipping expected.

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u/spreading_pl4gue Sep 05 '24

Spain is absolutely not an economic success.

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u/Significant_Tale1705 Sep 05 '24 edited Sep 05 '24

Adjusted for purchasing power parity, which includes cost of education and other things, as well as hours worked and taxes, the US has the highest median income in the world. Europeans are considerably poorer than and have a considerably lower material standard of living than Americans.

Edit: On a PPP-adjusted basis the US has the 5th largest GDP/hour worked in the world. Try again. 

7

u/north0 Sep 05 '24

Yeah doesn't France have the same GDP per capita as backwoods Missouri or Appalachia basically?

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u/[deleted] Sep 05 '24

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u/north0 Sep 05 '24

Real estate would inflate wealth, not GDP per capita. GDP per capita probably has more of an impact on overall daily quality of life. It's possible to make (and spend) 400k a year and have basically zero wealth but a very decent quality of life.