Tuesday, August 26, 2014

European countries are poor by U.S. standards

If Britain were to join the United States, it would be the second-poorest state, behind Alabama and ahead of Mississippi.

The ranking, determined by Fraser Nelson, an editor of The Spectator magazine, was made by dividing the gross domestic product of each state by its population, and it took into account purchasing power parity for cost of living. Several other European countries were also included in the ranking.

--Hunter Schwarz, Washington Post, on putting things in economic perspective. HT: NK