-
9 votes
-
Denmark's economy contracts with drop in pharma production – Danish GDP fell 1.8% in the first quarter
7 votes -
GDP per capita vs. the federal poverty rate over the years (observation and discussion)
Fair warning, I'm a dummy trying to talk about stuff I don't fully understand, but I wanted to see others' thoughts on this. In the 1960s, America's GDP (per capita) was $3,000. Also, in 1960, the...
Fair warning, I'm a dummy trying to talk about stuff I don't fully understand, but I wanted to see others' thoughts on this.
In the 1960s, America's GDP (per capita) was $3,000.
Also, in 1960, the federal poverty limit was $3,000 for a family of four.In 2023, the GDP (per capita) was $82,034.
The federal poverty limit for a family of four in 2023 was $30,000.This can't be good for the American people. Unless I'm drawing comparisons between two completely unrelated things?
People who are barely in poverty today would have to earn ~2.7x the amount they earn to stay consistent with those who were barely in poverty in the 1960s if GDP and FPL were still equal to each other. So what about the families caught in the middle? Too high earnings to get help and too low to thrive? They just suffer, I guess.
Out of curiosity, I calculated what the thresholds would be if the percentages of GDP to FPL were swapped between 2023 and 1960.
1960s numbers adjusted if FPL matched 2023's percentage:
GDP=$3,000
FPL=$1,1111960s numbers adjusted if GDP matched the percentage comparison of 2023:
GDP=$8,100
FPL=$3,000Please let me know if it actually matters that the GDP per capita is 2.7x the federal poverty limit for a family of four. Also, let me know your thoughts.
8 votes -
Something is golden in the state of Denmark – can Novo Nordisk's success really be a problem for the Danish economy?
8 votes -
With Novo Nordisk, Denmark wants to avoid the Nokia trap
14 votes -
The GDP gap between Europe and the United States is now 80%
37 votes -
America's obsession with weight-loss drugs is affecting the economy of Denmark – Novo Nordisk's market capitalization has matched the GDP of its home country
17 votes -
US GDP grew at a 2.4% pace in the second quarter, topping expectations despite recession calls
31 votes -
Beijing needs to junk its economic playbook
4 votes -
US grew 2.9% in third quarter, GDP shows, and there’s little sign of recession for now
8 votes -
US GDP accelerated at 2.6% pace in Q3, better than expected as growth turns positive
8 votes -
United States: An uneasy feeling
7 votes -
Amsterdam’s ‘doughnut economy’ puts climate ahead of GDP
16 votes -
US GDP doesn’t credit social distancing, but it should
6 votes -
If the female employment rate across the OECD matched that of Sweden, OECD GDP could be boosted by over US$6 trillion, according to PwC's latest Women in Work Index
5 votes -
US Congressional Budget Office annual report projects continued economic growth, but federal deficits and debts reaching levels not seen since just after World War II
8 votes -
Iceland's prime minister Katrín Jakobsdóttir has urged governments to adopt green and family-friendly priorities, instead of just focusing on economic growth figures
11 votes -
Yield curve and predicted GDP growth
9 votes -
Why wealth is determined more by power than productivity
9 votes -
We're measuring the economy all wrong
12 votes