KINDA COUNTERS THAT WHOLE GOP ARGUMENT ON THE USA BEING BROKEN
In a special report on the booming US economy, The Economist revealed some eye-opening statistics that show how, since the 1990s, America has Katie Ledecky-ed the field when it comes to economic performance.
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In 1990, the US accounted for 40% of the GDP of the G7 group of wealthy countries. Today, it makes up roughly half.
US economic output per person is 40% higher than in Western Europe and Canada, and 60% higher than in Japan.
Average wages in Mississippi, the poorest state in the US, are higher than the average in Germany, Canada, and Britain.
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What is the American economy’s secret sauce? According to The Economist, factors include its large consumer market, tech innovation, the world’s most sophisticated financial markets, and a deep labor pool coming from its first-rate universities.—NF
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s: Morning Brew