alt Hacker NewsThis is why GDP isn't a good measurement of the wealth of citizens. Americans get paid more but also pay more for things. Even if we assume the two perfectly cancel each other out, the net result is the same, but GDP is higher.
This is why GDP isn't a good measurement of the wealth of citizens. Americans get paid more but also pay more for things. Even if we assume the two perfectly cancel each other out, the net result is the same, but GDP is higher.
GDP is not and never has been a measure of wealth. It's a measure of a country's output. Higher GDP could just mean you're working longer and harder.