Can someone check me on this? It seems that by equating spending/consumption with wealth, the things that cost us more (healthcare, transport, telecoms, etc) than other nations are being counted as wealth when really they're just overpriced and the profit (generally) goes into someone else's pocket?

At a very basic level, if my quality of life is shitty because I have to work too much and I wind up buying dinner more because I can't afford the time to cook, that's counted as "wealth" in this calculation. I could be misinterpreting it, but I don't see how.