It does look more optimistic if you weight it by population...
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I feel it would also be more optimistic if one were comparing against a fixed baseline rather than re-norming against US yearly. 40 years of progress against war, famine, pestilence, and death, and the bad news, such that it is, is the US outpaced some in growth rate. Not bad!
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Haven’t seen that before, interesting. So most GDP growth in those countries comes from population growth rather than productivity.
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Not necceraly, since the US GDP has grown quite a bit since the 80s, they will also have had to have productivity growth per capita to stay stagnate compared to the US
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Isn’t this Eastern Europe? Still very interesting though
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shows that GDP does not measure things well....US healthcare spending is 20% of US GDP, for example.
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That’s because healthcare in the US is rent seeking
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My interpretation: in 2010 the world finally stared catching up to the US in terms of per person productivity, until 2010, when Sub-Saharan Africa, the Middle East, and Latin America started getting left further behind.
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What’s striking to you about it?
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Don't know abt Patrick, but to me what was striking was that GDP growth in Saharan Africa for ex. didn't come from increased productivity (higher GDP per capita) but from the increase in population. Also, decreasing productivity in L.America, relatively low productivity in Asia.
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