Important question: Do you get paid in GDP?
The answer is no.
You get paid what you and your employer agree to have you work for. That number isn't necessarily correlated to GDP.
Would you rather be the average person in China, or the average person in Japan? Well, the GDP of Japan is less than that of China, but the quality of life is overwhelmingly higher in Japan.
The answer is no.
You get paid what you and your employer agree to have you work for. That number isn't necessarily correlated to GDP.
Would you rather be the average person in China, or the average person in Japan? Well, the GDP of Japan is less than that of China, but the quality of life is overwhelmingly higher in Japan.
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@sj_zero The numbers on a balance sheet are also not able to provide the full picture of the quality of your life. Housing/rent prices are a great example. Many houses in expensive areas make it so that any extra income living in an area is canceled out by just paying for your mortgage or rent.
I remember seeing a place in LA in Zillow that cost 500K. It was in terrible condition, and most certainly would need renovation and cleaning. 500K can get you a very nice place in many other areas.
