Read an Interview with Matthew, the owner of CathInfo

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Offline Marlelar

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A bright spot
« on: May 11, 2018, 02:38:17 PM »
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  • While I do not think the US is in great shape, compared to other countries it’s not so bad.

    https://fee.org/articles/see-what-foreign-country-your-state-matches-in-total-gdp/

    New York and Pennsylvania surprised me. 

    Offline Matthew

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    Re: A bright spot
    « Reply #1 on: May 11, 2018, 03:09:55 PM »
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  • The map below (click to enlarge) was created (with assistance from AEI’s graphic design director Olivier Ballou) by matching the economic output (Gross Domestic Product) for each US state (and the District of Columbia) in 2017 to a foreign country with a comparable nominal GDP last year, using data from the BEA for GDP by US state and data for GDP by country from the International Monetary Fund. For each US state (and the District of Columbia), we identified the country closest in economic size in 2017 (measured by nominal GDP) and those matching countries are displayed in the map and in the table below. Obviously, in some cases, the closest match was a country that produced slightly more, or slightly less, economic output in 2017 than a given US state.
    It’s pretty difficult to even comprehend how ridiculously large the US economy is, and the map above helps put America’s Gross Domestic Product (GDP) of $19.4 trillion ($19,400,000,000,000) in 2017 into perspective by comparing the economic size (GDP) of individual US states to other country’s entire national output. For example:

    Overall, the US produced 24.3 percent of world GDP in 2017, with only about 4.3 percent of the world’s population. Three of America’s states (California, Texas and New York)—as separate countries—would have ranked in the world’s top 11 largest economies last year. Together, those three US states produced nearly $6.0 trillion in economic output last year, and as a separate country would have ranked as the world’s third-largest economy and ahead of No. 4 Japan ($4.8 trillion) by more than $1 trillion. And one of those states—California—produced more than $2.7 trillion in economic output in 2017—and the other two (Texas and New York) produced $1.7 trillion and $1.5 trillion of GDP in 2017 respectively.
    Adjusted for the size of the workforce, there might not be any country in the world that produces as much output per worker as the US, thanks to the world-class productivity of the American workforce. The map above and the statistics summarized here help remind us of the enormity of the economic powerhouse we live and work in. So let’s not lose sight of how ridiculously large and powerful the US economy is, and how much wealth, output, and prosperity is being created every day in the largest economic engine there has ever been in human history.
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    Offline Pax Vobis

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    Re: A bright spot
    « Reply #2 on: May 11, 2018, 04:18:12 PM »
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  • How many states would it take to match China?

    Offline Marlelar

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    Re: A bright spot
    « Reply #3 on: May 11, 2018, 04:49:16 PM »
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  • China's GDP is just over 11 trillion.  Rough guess is the top 13 states in the US would about equal China's GDP.

     

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