United Airline
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GNP, GDP/Per Capita Income Of Different Countries

Tue May 11, 2004 3:11 am

You get heaps of surveys with different results. Last time I remember the result was:

1) USA
2) Japan
3) Hong Kong

Something like that......... What about Switzerland and Luxemburg???

Also CANADA VS AUSTRALIA. Which country has a higher per capita income??? I would say CANADA right? Afterall it's a bigger economy.

What about absolute GNP/GDP? Does anyone have the rankings? I am sure USA is number 1.
 
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sebolino
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RE: Happy New Muslim Year 1425

Tue May 11, 2004 4:00 am

Luxembourg is number 1, much higher than the USA.

The calculation is made in "Buying power standard" representing "an equal volume of goods".
The advantage of this calculation is to take into account the differences of inner prices.

Luxembourg: 35980
USA : 27561
Japan: 22402
EU : 20613


See http://europa.eu.int/comm/publications/booklets/eu_glance/14/index_fr.htm

[Edited 2004-05-10 21:01:23]
 
 
United Airline
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RE: GNP, GDP/Per Capita Income Of Different Countries

Tue May 11, 2004 4:39 am

But another survey (The big mac one) showed that USA has the highest per capita income. And Japan comes 2nd and Hong Kong is number 3. Well...... this is in terms of absolute terms without taking other factors into account.

CANADA VS AUSTRALIA. WHO IS HIGHER?
 
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sebolino
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RE: Happy New Muslim Year 1425

Tue May 11, 2004 5:17 am

The big mac one ?

You mean how many Big Mac you can buy ?

But people don't buy only Big Macs  Smile/happy/getting dizzy
 
United Airline
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RE: GNP, GDP/Per Capita Income Of Different Countries

Tue May 11, 2004 5:29 am

Yes. How many big macs you can buy worldwide I think. Hahaha!

But a few OTHER surveys indicated that USA is no 1, Japan no 2 and HK no 3. Well they all rich places.
 
keno
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RE: GNP, GDP/Per Capita Income Of Different Countries

Tue May 11, 2004 11:03 am

Big mac is used as a standard product for comparison because no matter where in the world you purchase it, you'd get the exact same ingredients, weight and size. I guess you could also use other products like Coke, but definitely not general products like bread.



Read the explanation here : http://www.stanford.edu/class/msande247s/bigmac.html
 
JAL777
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RE: GNP, GDP/Per Capita Income Of Different Countries

Tue May 11, 2004 11:36 am

Cayman Islands and Bermuda??? Me thinks all those off-shore accounts are having an effect on their GDP's.
 
United Airline
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RE: GNP, GDP/Per Capita Income Of Different Countries

Tue May 11, 2004 3:27 pm

So Canada has a higher GNP/GDP than Australia???? Also higher per capita income...... interesting.

Heard that California State is already a bigger economy than Australia is that true?
 
Trvlr
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RE: GNP, GDP/Per Capita Income Of Different Countries

Tue May 11, 2004 4:02 pm

California's GDP is actually the world's 6th largest. In fact, just Los Angeles County has a higher GDP than Russia.

(source: The Economist)

-Aaron G.
 
United Airline
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RE: GNP, GDP/Per Capita Income Of Different Countries

Tue May 11, 2004 5:19 pm

Russia or Australia????

BTW, which city has a higher GDP? LA or SFO?
 
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sebolino
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RE: GNP, GDP/Per Capita Income Of Different Countries

Tue May 11, 2004 5:30 pm

A calculation in term of hamburgers is ridiculous.
If I choose a calculation in term of Bordeaux wine, France will be number 1.
It has to reflect what people really buy (food, cars, gas, cinema tickets, ...).
If the salaries in a country is much higher than in another (f.e. USA vs France), you have to take into account the fact that houses (for example) are much more expensive in the USA too. You can't just apply the parity and say: more dollars = more living power. (that would be true for an American coming in vacation in France though).
 
United Airline
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RE: GNP, GDP/Per Capita Income Of Different Countries

Tue May 11, 2004 5:33 pm

I think its in terms of the number hamburgers you can buy worldwide, not only in your only country. Its purchasing power I think........
 
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sebolino
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RE: GNP, GDP/Per Capita Income Of Different Countries

Tue May 11, 2004 5:43 pm

Yes,

Except that the price of a BigMac is not determined with the same criterions in all countries.
Perhaps one country has cheaper meat or tomatoes, or the demand is so low that MacDonald's has decreased the price, or the minimum salaries of MacDonald's employees is much higher than in another country.

And perhaps BigMac is very expensive because of an expensive meat, but cars and beers are very cheap ...
 
United Airline
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RE: GNP, GDP/Per Capita Income Of Different Countries

Tue May 11, 2004 8:06 pm

True........ Indeed the Bigmac Index is not very accurate in some ways, even the Hong Kong government has made clear of that.

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