Countries where the average person was richer in 2009

Libya, Yemen, Equatorial Guinea, Greece, the Central African Republic, Sudan, East Timor, Lebanon, Greece, and Trinidad & Tobago.  In Syria and Venezuela data collection has stopped altogether, but they would make the list too.

Ethiopia had the highest growth rate of the decade, with Nauru, Rwanda, Ghana, Mongolia, Turkmenistan, Laos, China, India, Bangladesh, Cambodia, and Myanmar as other winners too.  Note that the numbers for Turkmenistan are disputed, especially for the last few years of the decade, but still the country had a strong performance early on.

Here is the full FT piece by Steve Johnson.

Comments

Greece regressed so much they made the list twice!

Or may be one is a reference to Ray Lopez alone.

Ray is now only top 2%

And his girlfriend is now 3/4 his age.

Pretty soon she'll be older!

I guess being a totalitarian dictatorship is good, then.

Totalitarianism should be kept distinct from authoritarianism. The government headed by Xi Jinping is authoritarian; Mao was totalitarian. Authoritarian regimes can be brutal but nobody's going to be accused of "wrecking" and shot because junk metal can't be recycled into industrial quality steel.

A totalitarian regime is a purely, fanatically ideological regime which has to suppress, obfuscate and attempt to outlaw reality itself. China doesn't really qualify at this point. Nor does Syria, by the way.

So that is it. Munich again.

Our tech fiends are helping to make unrelenting capitalism a totalitarian enterprise, since invitations to commercial and financial performance are being issued each and every one of the 31,536,000 seconds that occur in each calendar year and which play out through all moments of all sidereal years.

Our tech fiends, that is, have turned the entire planet into a totalitarian treadmill: just try to get off, short of dying from exhaustion.

Good point.

"Our tech fiends, that is, have turned the entire planet into a totalitarian treadmill: just try to get off, short of dying from exhaustion."

Venezuela has proved you do not need tech to create the treadmill that requires you to run ever faster with no way to get off.

That the US is currently able to run the treadmill ever faster with no way off has more to do with everyone trading in dollars, so tech is in effect doing what Trump wants for only the US, but for the entire global economy.

The stats on the number of $100 US promissory notes make it clear they have replaced gold in all the vaults and hidy holes around the world. Tech creates product designs for Asia to sell as products to US consumers to expand the global money supply reserves, displacing the Reagan policy of cutting US oil production to create global money supply by importing oil.

We will be screwed if the dollar is replaced by another currency, or Russia figured out how to create demand for its gold to replace demand for it's natural gas. Russia should flood the gold market with gold, crashing the market to create demand for gold watches, or at least gold phones, and then when demand is high, cut off supply so prices rise rapidly creating great demand from speculators. Then all those dollars will be traded for gold as the gold price rises for years. Look at how long it took for oil prices to rise so high that oil production increased so much, and substitution to cut demand, really started to threaten the high profit on oil and gas, and for some, coal mining (Australia).

Tell that to the Uighurs or the average Chinese citizen firmly protected from reality by the Great Firewall of China.

As of now, it is easy enough for Han Chinese to travel abroad that they are changing the face of global tourism. Totalitarian communist countries of the 20th century (or Cuba and North Korea today) were much more careful to regulate travel and interaction with foreign nationals.

You all got Thiago’d again.

How can you not see it?

I don't think so.

My mistake, I just confirmed it is not the impersonator. It's the real Thiago.

Friends of mine visited Rwanda last year. They were astonished by how well it was run, a complete contrast to almost every other African country they knew.

Paul Kagame is the tall, thin leader of African descent who should have won the Nobel Prize instead of that other guy.

Unfortunately, I think Rwanda is the result of at least $1 billion in foreign aid and the firm control of State power by a single nuclear family. When Kagame goes I think Rwanda goes but I hope otherwise. I think a lot of people are gunning for him.

I think if one-family control and a lot of foreign aid were the necessary conditions for rapid progress many more countries would be prosperous. Something else is going on.

Maybe necessary, but not sufficient.

I think that something else is the person of Paul Kagame. Of course, the notion that people are not actually fungible is not something that's going to be accounted for in the "total stock of resources."

It seems like Ghana has been pretty consistently doing okay since perhaps the 1980s.

The British thought it would be the star West African independent country, but then it had a bad 1960s-70s. But they appear to have been pretty accurate in the long run. West Africa has a tough climate, hot and humid, so it's fairly impressive that Ghana has done okay for several decades in a row now.

Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery?

not to mention, if you are an average young man in China, the ratio of beautiful women to average young men your age all across the country has shrunk quicker than cotton candy in a rainstorm

Some of those nations have been adjusting income skew using extra-economic methods.

"Wealth is a measure of the total stock of resources in a nation" ??

... a useless assertion without a clear definition/measure of "stock of resources".

DOW Jones is at historic highs thanks to tons of funny-money pumped in by the Federal Reserve.
Are Dollar-denominated stocks ... genuine economic wealth ?

Could U.S. wealth & standard-of-living ever drop sharply too ... or are modern Democrats/Republicans/Congress/Trump correct that Federal deficits/debt don't matter?

Interesting question. Are all current measures of US wealth netted out after accounting for $21T in debt?

And if the debt doesn't matter, why am I still paying taxes? That's getting to be the really weird part: the amount of taxes extracted bear no relation to expenditures. People can vote for whatever gibmedat they want; it apparently doesn't matter.

So said Mr Corbyn's party: much of the British electorate was unpersuaded. Mind you, the new government sounds as if it is happy to pursue a dilute version of that policy anyway.

Corbyn's Labour as to why income taxes should be paid in the land of debt not mattering - to even out income inequality!... but only for the top 5% of earners.

What about Greece? Seems like they should be on the list.

And to think that the first comment makes this comment utterly hilarious - three strikes and you are out.

No surprise as other than Art Deco you are the most humorless person on the internet.

I was wondering where Zimbabwe is on the list. According to some websites' data, they've had fairly decent growth since 2009. But from a low base because 2009 was the first uptick after years of horrendous economic shrinkage under Mugabe.

Large portions of the State of Michigan and other parts of the midwest are still much worse off than in 2009...

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