Monday, July 30, 2012

Those remarkably wealth Australians!

Canadian historian Christopher Moore's piece on 19 July, History of being richer than them, begins:

Canadian journalist Stephen Marche caught the US by the ears recently with an article noting that Canadians are now richer than Americans -- and crediting the difference to Canada's "hard-headed socialism."

Canadians obviously take a certain malicious pleasure in that after having been so looked down on by their US neighbours.  Washington Post journalist Dylan Matthews decided to investigate further. He found that if you took median rather than average wealth, Canada was even further ahead. But the graph included with the story had another remarkable feature, leading Christopher to remark:  "Canada ahead of the US, but how'd the Aussies get so rich?" median wealth 2011 by country


Winton Bates said...

Yeah, well, if we are so wealthy, why don't we feel wealthy?

It might have something to do with exchange rates. Perhaps it is necessary for Australians to have a holiday in the United States in order to feel wealthy!

BTW, it is the 100th anniversary of Milton Friedman's birth tomorrow. I have a post scheduled on my blog.

Jim Belshaw said...

I think it comes back to the composition of that "wealth", Winton If I read the numbers correctly, Australia's relatively high house prices play a major role. I also suspect that super is important. Neither makes us feel wealthy.

Noted the Friedman post. Will look at it tonight. One hundred years. Lord that makes me feel my age!

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