Re:India will overtake the US economy by 2030
by benj111 on Monday March 18, 2019 @05:29PM
(#19425518)
Agreed, if you want some idea of quality of life, GDP probably isn't the best.
If you want to measure who has the most resources either to potentially trade with them, or decide if you have the resources to fight them, GDP becomes more useful.
Re:India will overtake the US economy by 2030
by gzeus on Monday March 18, 2019 @08:32PM
(#19426872)
If you look at it this way, there is no real measure to see which is a better place to live.
The only thing one can agree from this article is that some countries are expected to grow at a higher rate than others only due to a larger population. I think this only makes sense if everyone is educated and the unemployment rate is low.
> a company with 150 units of revenue and 90 units of cost
and this company isn't able to pay the employees with much compared to company A (read: country is poor even if GDP is high). But, with smart re-investment or debt structure, a country with high GDP low per-capita can rise out of poverty. But company A isn't just gonna sit idly by and let it happen.
It's sort of like a company that has 100 units of revenue and 20 units of costs versus a company with 150 units of revenue and 90 units of cost, the one with greater revenue may still have more economic power (e.g. ability to leverage suppliers, etc) despite having lower profit margin.