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So rich yet so poor


GodYezi

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there're rich countries with a lot of poor people too

probably because rich people own most of the money.

India has a huge population that's why.

 

Germany you are doing great sweetie.

Are you from Germany?

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no, I'm not. I graduated 2 years ago.

 

Then you should have at least noticed that the point of the table wasn't the GDP numbers for 2010 or 2017, but the figure on the right...debt. GDP figures don't tell the whole story. Statistics always needs context, especially when you are trying to relate it to normal day-to-day lives. US and Japan have some of the highest GDPs in the world, but also have the most debt. Japan has a debt 2.5X their annual GDP in 2010. India has a higher GDP than S.Korea, but because of their huge population and poor distribution of income, people end of shitting on the streets. But despite having people shitting on the streets, India has a lower rate of suicide that S.Korea. Why?

 

So what does being rich mean? Your first post seems to imply that being richer means being better. That's not necessarily true. If you want to have a better idea how an average American compares to an average (other nationality), use GDP per capita  (GDP / population), which will give you an average estimated annual income. But even then that doesn't tell the story. US GDP per capita in 2016 was US$52,000. But recent news says that 50% of Americans could not come up with $500 in a sudden emergency. I'm not American, and I don't earn as much as $52K a year, but I can come up with a lot more than $500 in an emergency.

 

My point is..be careful when using broad statistics to compare countries / people / culture. It's never clear cut enough for a single number to mean anything significant. 

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Then you should have at least noticed that the point of the table wasn't the GDP numbers for 2010 or 2017, but the figure on the right...debt. GDP figures don't tell the whole story. Statistics always needs context, especially when you are trying to relate it to normal day-to-day lives. US and Japan have some of the highest GDPs in the world, but also have the most debt. India has a higher GDP than S.Korea, but because of their huge population and poor distribution of income, people end of shitting on the streets. But despite having people shitting on the streets, India has a lower rate of suicide that S.Korea. Why?

 

So what does being rich mean? Your first post seems to imply that being richer means being better. That's not necessarily true. If you want to have a better idea how an average American compares to an average (other nationality), use GDP per capita  (GDP / population), which will give you an average estimated annual income. But even then that doesn't tell the story. US GDP per capita in 2016 was US$52,000. But recent news says that 50% of Americans could not come up with $500 in a sudden emergency. I'm not American, and I don't earn as much as 52K a year, but I can come up with a lot more than $500 in an emergency.

 

My point is..be careful when using broad statistics to compare countries / people / culture. It's never clear cut enough for a single number to mean anything significant. 

I'm sorry I don't study economy in college.

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