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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (135429)	4/2/2001 10:58:00 AM
From: Jim McMannis	Read Replies (3) \| Respond to of 1572946

RE:"I think there is no comparison between the US and Norway's standard of livings....Norway undoubtedly is much higher" So when are you buying your one way ticket? Jim

To: tejek who wrote (135429)	4/2/2001 12:43:44 PM
From: TimF	Respond to of 1572946

These valuations are in dollars and they are based solely on GDP. There is lot of additional data that needs to be factored in. For an example, in Sweden, there are approximately 7 kroners to the dollar. If one kroner has the same buying power in Sweden as one dollar has in the US, then Sweden's living standards in terms of buying power is considerably higher. I provided examples with purchaseing power parity exchange rates. Sweden actually does better at direct conversion useing current exchange rate then it does when purchaseing power parity is considered. The US spends about % of our GDP on defence so it doesn't change the overall total to much if you just subtract 3% from the US and 1 or 2% for most European countries. Norway's GDP per person measured by PPP is less then that of the US. By that measurement (at least as of Jan 99) the US is a close second in the world after Luxembourg? (anyone know why Luxembourg is the richest country in Europe?). If you ignore PPP and just use straight exchange rates then the US moves down a bit but is still one of the top few countries and is wealthier then most countries in Europe. Tim