For anyone who grew up or has spent enough time in the United States, you frequently see how various media outlets function as instruments for trumpeting the claim that the American economy is the best on Earth. While it is certainly true that America has the largest economy, currently 14 trillion+, it has not produced the same amount of growth over the last decade that we've seen from China or (drum roll) France. Yes that's right, those pesky French socialists who're supposed to have a weaker economy because of their higher taxes actually posted a larger percentage of growth in their GDP between 2000-2009 than we did. The numbers: In 2000, France's GDP was 1.328 trillion and this grew to 2.649 trillion by 2009. In 2000, U.S. GDP was 9.899 trillion and this grew to 14.119 trillion by 2010. The math: France: 2.649 - 1.328 = $1.321 gain. 1.321 is 50.13% of 2.649, so heavily regulated and socialist France increased its economy by 50 percent. _________________ US: 14.119 - 9.899 = $4.22 trillion gain. 4.22 is 29.89% of 14.119, so the so-called "freemarket" economy of the US with far less regulation and less spending on social programs was outperformed by 20 percent in comparison to France. In terms of per capita GDP ($46,400), the US outpaces most of its western counterparts largely because we've let our wealthiest citizens keep a larger share of their money, while the rest of the country suffers.
This is an excellent find. Therefore, you deserve a good pat on the back. But another question...can you cite your source of information?
No find, I did it with data that was assembled from googling France/U.S. GDP. French GDP data: 1960-2009 U.S. GDP data: 1960-2009 Google uses World Bank figures, which are uniform with IMF and CIA figures.
Ah yes. You might also want to mention that France has a much healthier lifestyle than the likes to the U.S..
Just out of pure curiousness, Saty, where does Sweden position itself in your investigation??? soft spot you know
Let's see, in 2000 Sweden had a $247.26 billion economy which grew to $406 billion by 2009. Sweden's GDP increased by $159 billion over the previous decade, so it grew by 39%. A recurring feature you'll see in western economies is a drop in GDP from 2008 to current day as a result of the global financial crisis, but Sweden has largely avoided the massive debt problems we're seeing in Portugal, Ireland, Greece, and Spain. The Swedish economy dropped from $478 billion in 2008 to 405 billion in 2009, but rebounded to $443 billion this year. _______________ God Jul . . .
Statistics are not always the complete picture, I think interpretation is key. There is this whole hoopla about China rise , yet growth in an economic sense just means the deployment of technology where there was none existing. American economy still innovates just like , I think the Nordic countries (don't know which one to cite especially), when weighted on per capita. They are up there with countries where you have most start-ups, apart from Israel in recent times, seems to me that America's economy is still healthy, and maybe not in at the height it needs to be. What America is undergoing is a structural change in its economy. It is a fully developed economy that growth would be hard unless there is another "run-away" technological change like the dot-com era. If it must fully live or realise its potential, it might need to get its smartest and brightest off Wall street and encourage production of social good that are best done through research. This is I think the area where government is missing. Unfortunately Conservatives don't seem to get this whole idea.A lot of research is going on in Nordic countries because education is free and people don't have to be bogged down with repayment of students loans that make people make 'smart decisions' that is not the in the best interest of society and the production of merit good. America's economy is virile, but cut-throat capitalism that allowed creative destruction to the extent it raised to the top is now undoing it. The older folks making policy at the moment benefited from public support of education..education is now market driven...no concern for creation of other goods that benefit society besides consumption goods that marketing campaigns convince Americans they need. I would say America's economy is like a fully developed plot of land or city where you have few rooms for growth except on brownfields, or better still outside into sub - urban lands. Most of the growth in China and in India were driven by American companies and the allocation of capital to countries that had cheap labour. In per capita terms, America still has relatively more wealth in individual hands than in China. If you spread the GDP amongst the people in China , you will find China is still a poor country. Although Goldman Sachs and others have predicted that America would be overtaken by China as the biggest economy in the world, a lot of folks are still leaving China in droves and many children of the middle class - the one child kids are leaving their parents behind because the competition for economic resources are just not there. As China embraces modernity, people should expect social crises and demands for more rights. This is even more likely with a demographic shift of values were delayed gratification is abandoned for immediate gratification.
If I remember rightly I think they also rate No1 for Healthcare in Europe and Best overall healthcare in the World. Pat on the back for France good for them.
