Myths of our time: globalisation

[chequita guevara]

GDP is a poor measure of standard of living, period.

[DAVOUT]

Originally posted by Imran Siddiqui

Actual GDP is made of the value of goods and services actually produced. If suddenly millions of elderly would disappear, they would no longer consume, and their consumption would no longer be produced. This would result in iddle factories and jobless workers, hence a reduced GDP.

Not if because of the lack of seniors the money they would have recieved goes back to the people in terms of tax cuts, giving people under 65 more money to spend, especially the poor, then factories would not have to close... but there would still be less people.

That is not a valid economic assumption : it is a criminal plot by the odious poors against the defenseless seniors.

[DAVOUT]

Originally posted by chegitz guevara
GDP is a poor measure of standard of living, period.

The only valid measure of standard of living is the kg caviare per capita, period.

[el freako]

Originally posted by Imran Siddiqui
Not if because of the lack of seniors the money they would have recieved goes back to the people in terms of tax cuts, giving people under 65 more money to spend, especially the poor, then factories would not have to close... but there would still be less people.

Well the propensity to save is massively different for the over 65's when compared to the under 65's (the under 65's are saving for retirement wheras the over 65's have negative saving as they draw down on their investments).

So I'm guessing that a large fraction of your suggested tax cuts would be saved not spent.

The net effect would be to raise the US's net saving rate (which could mean a return to surplus for the US current account balance)


On the GDP growth per capita issue, the water has been significantly muddied by changes in the way that the US compiles it's statistics which have introduced major differences between the US and most of the rest of the world (this means that most other countries' growth rates are understated, relative to the US, by between 0.5% and 1.5% a year)

[Fake Boris]

Originally posted by Imran Siddiqui


The problem is that GDP per capita is really only important to the UN in deciding standard of living, etc. And therefore has been picked up by them. I mean #1 in GDP per capita is Luxembourg. Switzerland is up there as well. Does anyone really consider them economic powers? On the other hand, France, Russia, Germany, etc with less GDP per capita are considered more important. That is the reason GDP growth per capita is not really measured, because GDP per capita is not considered a really important economic measure.

Yes, and that means Luxembourg's economy is excellent. How would you expect a country like Switzerland, with 1/25 of the American population, to be any kind of economic powerhouse? Of course it can't. Now, if we want to compare growths, we can take a look at how did each Swiss create wealth on average compared to every individual American's average. That is a valid comparison.
If your point is to prove that Quebec is not an economic powerhouse then you can only win. But if it is to prove that its citizens have not enjoyed a decent economic growth, you can only lose.

I could repeat my first example here: if 1 billion Chinese went to Canada in a single year and produced 500$ of wealth each, then we would see a huge GDP increase, but I wouldn't say the country would have "enriched" itself.
(and about the issue of immigrants, no, they are not a drain on GDP. you can see my own thread on this).

[Imran Siddiqui]

If your point is to prove that Quebec is not an economic powerhouse then you can only win.

Duh! That was your point. That Quebec was an economic power!! That Quebec had good economic growth compared to Canada!

but I wouldn't say the country would have "enriched" itself

Why not?

[Lawrence of Arabia]

Random Prediction: China and India will join the ranks of the NICs within the next 10 years.

[Q Classic]

nics?

[Dinner]

Originally posted by Master Zen
The goal IMO was quite clear: support the South Vientamese regime, not so different than support of the South during the Korean War. The difference was that 1) the means to do so were never quite clear 2) the amount of force necessary was also never quite clear and 3) the will wasn't really there at all.

I think what Ned was getting at was that in order to win you need to go to the other guy's country, beat the crap out of him, and then take over his country. The US/South Vietnam never tried to do that because they feared communist China would invade and then that would set off a general war in East Asia or worse yet trigger a Soviet-US war. As a result the Johnson & Nixon administrations settled on the mushy idea of fighting but only on the defensive.

[Dinner]

The only N.I.C. I know is an old southern abreviation for "****** in Charge". It was used for the black overseers who supervised other blacks. You also had an HNIC or head ****** in charge. who supervised the supervisers.

[el freako]

Originally posted by Q Cubed
nics?

Newly Industrializing Countries - the label given to Korea, Hong Kong, Singapore, Taiwan and Malaysia in the 1980's & 1990's.

Most of the above countries have 'arrived' - Hong Kong and Singapore have GDP per capita on a par with western europe or Canada, Taiwan is level with Spain & New Zealand, South Korea's at the level of Greece or Portugal.

China and India are likely to be the drivers of the world economy over the next half century (together they will account for a larger share of world growth than the US, EU and Japan combined).
I estimate that China's GDP will rise from 50% of the US's now to 90% in 2050 - India will also see a dramatic rise, from 20% to 60%.

[Fake Boris]

Originally posted by Imran Siddiqui

Duh! That was your point. That Quebec was an economic power!! That Quebec had good economic growth compared to Canada!

I just said its economic growth was fine. Which is true.
To be an economic powerhouse, you have to be large and preferably very rich on a per capita basis.
Quebec is small but its GDP per capita is decent, just like Belgium, Austria, Switzerland, Denmark, etc.

but I wouldn't say the country would have "enriched" itself

Why not?

What country is richer: China or Norway?

[JohnT]

My God, are y'all two still going over this?

[Imran Siddiqui]

I know John... I'll end it now.

Which country is richer? China, of course.

[TCO]

fall thread, fall