by Tyler Cowen
on January 17, 2008 at 11:16 am
1. Larry White is recovering
2. The economist as Scrooge
3. An amazing map, via Bryan Caplan
4. The future of marriage
I live in NJ and it is amazing that the state’s GDP is comparable to Russia’s. I wonder if the politicians in Russia are any better?
That map is VERY wrong. For example, it says that Russia’s GDP is comparable to New Jersey’s, and that Delaware’s GDP is comparable to Romania’s.
However, here are the real GDPs, according to the 2007 CIA World Factbook (for the countries) and the Bureau of Economic Analysis (for the states):
Russia’s GDP – $1.7 trillion
New Jersey’s GDP – $453 billion
Romania’s GDP – $202 billion
Delaware’s GDP – $60 billion
BEA stats (scroll down to Table 5): http://www.bea.gov/newsreleases/regional/gdp_state/gsp_newsrelease.htm
2007 CIA World Factbook: https://www.cia.gov/library/publications/the-world-factbook/rankorder/2001rank.html
And those are just the two that I immediately looked up because they looked so wrong. I’m sure there are MANY more mistakes. It would be interesting to see a real map like that, though.
I guess I screwed up the second link.
There is a distinction between GDPs evaluated at exchange rates and at purchasing power parity. I believe this map is the former. Often the PPP measure is used to compare living standards, but if you’re comparing sizes of economies arguably the market price method is better.
“Often the PPP measure is used to compare living standards, but if you’re comparing sizes of economies arguably the market price method is better.” – So, what is the argument? It does seem by that method that the U.S. dollar falling makes the U.S. GDP much smaller, yet that seems very counter-intuitive.
Better late than never, but voluntaryXchange had that map up almost a year ago, along with another one showing how many states you have to cobble together to equal the GDP of, say, China or Japan.
Check it out at (http://voluntaryxchange.typepad.com/voluntaryxchange/2007/02/extremely_cool_.html)
Bad history on the marriage front. Marriage amongst the non-gentry (ie the bulk of the population) was by choice, for companionship, and made when women were in their mid-to-late twenties.
thank you for this excelent article
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