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0 pointsbigfudge1y ago0 comments

The median EU citizen is not getting poorer relative to the median US citizen. Don't confuse growing income inequality with "national wealth".

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hartator1y ago

GDP per capita of EU used to be higher than the US.

mariusor1y ago

And then poorer countries joined the EU. I'm not an economist but I think that's how it's supposed to work.

rsynnott1y ago

I'm not sure that's ever been true on PPP? It may have been on a nominal basis from time to time due to a weak dollar (1 EUR hit 1.60 USD or so during the financial crisis), but that's of limited interest for the average person.

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hartator1y ago

GDP per capita of EU used to be higher than the US.

mariusor1y ago

And then poorer countries joined the EU. I'm not an economist but I think that's how it's supposed to work.

rsynnott1y ago

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