8 votes

Australians are the richest people in the world

9 comments

  1. [2]
    vakieh
    Link
    Real headline: Australia has the highest median wealth. The US has the most total, Qatar has the highest GDP per citizen capita, and Switzerland has the highest mean wealth. Useful headline:...

    Real headline: Australia has the highest median wealth.

    The US has the most total, Qatar has the highest GDP per citizen capita, and Switzerland has the highest mean wealth.

    Useful headline: Australia has the least poor people. Our class disparity is very good. Turning to shit lately though, give it time.

    14 votes
    1. krinkles
      Link Parent
      It's almost like a higher minimum wage is more beneficial to the lower class or something.

      It's almost like a higher minimum wage is more beneficial to the lower class or something.

      2 votes
  2. [5]
    Octofox
    Link
    How is wealth defined? The value of everything you own?

    How is wealth defined? The value of everything you own?

    1. Algernon_Asimov
      Link Parent
      According to this article posted here later by @patience_limited...

      According to this article posted here later by @patience_limited...

      The measure of wealth used by the OECD is ‘mean net wealth per household’. This is the value of all of the assets in a country, minus all debts. Assets can be physical, such as buildings and machinery, financial, such as shares and bonds, or intangible, such as intellectual property rights.

      3 votes
    2. [3]
      Algernon_Asimov
      Link Parent
      I assume so. What else would it be?

      The value of everything you own?

      I assume so. What else would it be?

      1. [2]
        nsz
        Link Parent
        You could argue the size of your family, or the level or fulfilment in life, happiness, other non material things. It's kind of wishy-washy though. There is a saying in Serbo-Croat ~ kids are the...

        You could argue the size of your family, or the level or fulfilment in life, happiness, other non material things. It's kind of wishy-washy though.

        There is a saying in Serbo-Croat ~ kids are the most important kind of gold/wealth.

        1. hotcouch
          Link Parent
          That'd be a pretty pointless argument...

          That'd be a pretty pointless argument...

          6 votes
  3. [3]
    Comment deleted by author
    Link
    1. [2]
      Algernon_Asimov
      Link Parent
      They convert all currencies to the same base value so they can compare. The point is that Australia's wealth is more evenly distributed among its population than the USA's wealth. Even though the...

      They convert all currencies to the same base value so they can compare.

      The point is that Australia's wealth is more evenly distributed among its population than the USA's wealth. Even though the USA has more rich people, the wealth is concentrated among only a small number of people. They also have a lot of poor people. So, when you average the total wealth of the USA across the total population of the USA, they don't have a high median wealth per person.

      7 votes
      1. [2]
        Comment deleted by author
        Link Parent
        1. Algernon_Asimov
          Link Parent
          The reason you can't apply a "joke" label to your own comment is to discourage people from posting jokes.

          I wish we could self-label our comments so you wouldn’t get your time wasted

          The reason you can't apply a "joke" label to your own comment is to discourage people from posting jokes.

          1 vote