Tuesday, June 21, 2011

Long Way Down

Yet another in the 'Ireland isn't Greece' meme currently doing the rounds - this time from Eurostat. It shows GDP per capita, adjusted for purchasing power at the end of 2010. And guess what? Ireland's GDP per capita is 25% above the EU average, while Greece is 11% below the average:

Let's hope the bond markets are taking note...

2 comments:

  1. I had someone on facebook the other day swearing blind that Greece's GDP is twice ours. But perhaps without using models like purchasing power parity, it is? Statistics can be very confusing!

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  2. It's unfortunate we have an apartheid economy in Ireland unlike the other EU states. That GDP vs GNP distortion gets trotted out so often. If only there were an accessible metric for real wealth in state not those narrow measures. Any fool can look around an established state such as the UK or the larger mainland ones and see infrastructural wealth, shared societal knowledge and exportable skills that are in scarce supply in developing states like Ireland. And when it comes to the Irish State's research and advisory agencies there seems to be limited ability to even appreciate what these qualitative forms of wealth actually look like.

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