Chris Dillow
speaker
76 appearances
2 recordings
1 series
first heard Sep 2014
last heard Sep 2014
Chris Dillow’s voice in public audio — every appearance, attributed to the second.
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Appearances
He pictures deliverance and men playing banjos, and he's got all these images of quite a poor country.
But in fact, that's a very outdated image, and the southern states have grown very strongly over the last 40, 50 years.
UK GDP last year was £1.6 trillion.
Now, if you divide that between 64 million of us...
you've got GDP per head of just over £25,000.
Now, the exchange rate last year was 1.57, so that gives us GDP per head in dollars of just over £39,000.
In the US, you've got GDP per head of just over $53,000.
So it looks as if the United States are $14,000 per person richer than us.
What I decided to do then was...
to forget that calculation and look at wages.
We know from the UK that the median full-time male worker gets £556 per week.
Now, the typical American worker, this is a man, gets $860 per week.
Now, if you convert that at an exchange rate of about 157, they're very close.
There's something else, which is that a lot of prices in America...
are a lot, lot lower than in the UK.
And this means that in terms of what your money buys, you're much better off in America.
So what I thought I'd do was I'd have a look at the prices of actual goods in the shops.
Take a dozen eggs.
These cost just over £3 in the UK, but they cost only $1.95 in the US.
Yes.
Showing 41–60 of 76 · page 3 of 4
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