Time for us (USA) to start stepping it up...
We need "no more Mr. nice guy" trade policies and to start charging for out protection like Trump talks about..
You do know that all the countries above the United States are either petro-states or city-states right? The US is top of the pack in it's class.
You do know that all the countries above the United States are either petro-states or city-states right? The US is top of the pack in it's class.
Norway is above the usa
It is essentially a petro-state as most of their economy is reliant on oil.
Most have vast natural resources except for Singapore, Hong Kong and Taiwan. Human capital stupid!
The 25 richest countries in the world - Business Insider
who would you consider to be in the USA's class?
You want to put words in my mouth?
Whatever...
Those middle eastern sunni countries Trump talks all the time about how we shouldn't be providing security forthem on our tax payers dime but rather should charge them for it..
Looks like they can afford it, he is right..
Lazy bum human capital won't get the job done. Education and productivity is the key.No sir, I'm just curious why you think they are poor if not for lack of human capital.
Lazy bum human capital won't get the job done. Education and productivity is the key.
who would you consider to be in the USA's class?
Norway has an oil fund that exceeds its annual GDP. No we are not in that class.
The US also has 64x the population and an economy that does not rely exclusively on oil.
doesnt that work against the US, the same way oil works against bahrian? since the US is 3 largest by population and size, aren't these figures based more on that, then anything else?, the USA is technically the largest country on earth if you just count arable land
In a way yes, it trades hyper specialization for less risk. The US may not grow as much as Norway when oil money is good but when oil goes down the US is not really affected but Norway and the other countries see most of their economy and GDP evaporate.
I know that question is addressed to carjosse, but I had the same thought when reading the list and I partially agree with his answer. The USA is #8 on the list, and for 6 of the remaining 7, they are all tiny countries/city-states that benefit from the exclusive ability to offer spectacularly attractive incentives to wealthy citizens/corporations to relocate and operate within their border which larger population countries cannot afford to match. It inflates their GDP per capita and doesn't make for a good comparison.who would you consider to be in the USA's class?
They do not have the institutions nor the human capital to harness their resources.So you are saying the African continent is not rich in natural resources?
I know that question is addressed to carjosse, but I had the same thought when reading the list and I partially agree with his answer. The USA is #8 on the list, and for 6 of the remaining 7, they are all tiny countries/city-states that benefit from the exclusive ability to offer spectacularly attractive incentives to wealthy citizens/corporations to relocate and operate within their border which larger population countries cannot afford to match. It inflates their GDP per capita and doesn't make for a good comparison.
Also if you don't get what I mean by that, when you have large populations as a country, you need significant revenues (taxes) in order to operate the necessary healthcare, education, welfare, bureaucracies, etc. systems. And comparatively the tiniest countries/city-states don't have this overhead. Therefore they can offer up these crazy tax breaks and corporate benefits that would drive other countries into bankruptcy, but for them is still is enough to be able to cover their operations while at the same time attracts "on-paper" the world's wealthiest and most productive individuals.
However I disagree with Norway not being in the same class as the United States. They've got a large population and also the citizen demands that would normally occur for a non-tiny state. It just so happens that their politicians by chance came up with and managed to execute a genius, world-class plan to use oil revenues to create a gigantic pension fund for everyone.
They do not have the institutions nor the human capital to harness their resources.
actually the countries listed (aside from switzerland) aren't considered tax havens in fact the USA has less taxes than the majority of those countries, i dont know where this idea comes from that things like "healthcare, education, welfare, bureaucracies, etc." that you listed are some form of charity, you'll notice its the poorest countries in the world that have none of those things, and super low taxes too.
theres also the factor of wealth inequality, which is rampant in the USA, over 41% of americas wealth is owned by the top 1%, as oppose to australia #15 on that list, where the wealthiest 1% own only 2% of the wealth, so if you exclude the top 1% the average australian is much wealthier than the average american
I think the main problem is that gdp per capita is a terrible way too measure the wealth of a country (or really anything for that matter)
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