Most of Europe Is a Lot Poorer than Most of the U.S.
Below is an excellent article comparing the financial success of Europe vs. the United States — and specifically with the STATES of the U.S. As has been previously demonstrated, most Europeans are less well off than America’s lower income folks.
While this includes great data, and is based on the fine work of Economics Professor Mark Perry (I’m a fan), it does an inadequate job of adjusting for the COL in the American states and European countries. There is one chart giving the CONSUMPTION comparison which dramatically demonstrates the superiority of America vs. all the European countries, but it would be even more interesting to break that down for a state by state comparison to European countries. Ah well, it’s good enough as it is.
BTW, IF you are interesting in how our American prosperity compares between U.S. states, see my article comparing state per capita GDP adjusted for COL. For instance, you’ll find that, adjusted for COL, the per capita GDP of Texas is about 45% higher than CA:… Read More