In comparing countries’ respective wealth, I believe that median wealth is the best measure as the mean is distorted by the massive wealth of a relatively few billionaires. Credit Suisse has recently released its 2018 report. 2017’s highest wealth nation by this measure was Switzerland. 2018 is, drum roll.........
Australia.
https://www.credit-suisse.com/media/...eport-2018.pdf
I have wondered why Australians travel so much. It’s because we are bloody rich.
30 or 40 years ago, the only time an average Australia planned to travel overseas was on a honeymoon (and then to places like Fiji or New Zealand) or possibly retirement. No if you don’t go overseas yearly, you have somehow failed (yes, hyperbole). Housing affordability is an issue, but this will change, and is changing now. Low unemployment, good public health care and welfare safety nets. Still the Lucky Country.
Alright, enough crowing. Comments? Is the assertion that median wealth is the best measure of a country’s wealth a reasonable one?
Australia.
https://www.credit-suisse.com/media/...eport-2018.pdf
Quote:
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The ranking by median wealth per adult favors countries with lower levels of wealth inequality and produces a slightly different table. This year, Australia (USD 191,450) edged ahead of Switzerland (USD 183,340) into first place according to our estimates. The median wealth placements of Belgium (USD 163,430), Canada (USD 106,340), New Zealand (98,610), the United Kingdom (97,170) and Singapore (USD 91,660) are similar to their mean wealth ranking, but lower inequality moves France (USD 106,830) up five places to fifth position, the Netherlands (USD 114,930) up eight places to fourth position, and Japan (USD 103,860) up ten places to seventh position. In contrast, high wealth inequality pushes Norway down seven places, and Denmark down 11 places, while median wealth of just USD 61,670 relegates the United States to 18th place, alongside Austria and Korea. |
30 or 40 years ago, the only time an average Australia planned to travel overseas was on a honeymoon (and then to places like Fiji or New Zealand) or possibly retirement. No if you don’t go overseas yearly, you have somehow failed (yes, hyperbole). Housing affordability is an issue, but this will change, and is changing now. Low unemployment, good public health care and welfare safety nets. Still the Lucky Country.
Alright, enough crowing. Comments? Is the assertion that median wealth is the best measure of a country’s wealth a reasonable one?
via International Skeptics Forum http://bit.ly/2VKAt03
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