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Why the per capita statistic is a meaningless one! (Read 2920 times)
UnSubRocky
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Re: Why the per capita statistic is a meaningless one!
Reply #15 - Jun 12th, 2018 at 6:23am
 
DonDeeHippy wrote on Jun 11th, 2018 at 1:12pm:
freediver wrote on Jun 11th, 2018 at 1:07pm:
So living in a large country with a GDP of $100 per person would be preferable to you to living in a small country with a GDP of $100000 per person?

wouldn't that only be meaningful if the country was communist and every person got the same share......A few really rich getting heaps and everyone else crap will still be the same gross wont it ?
so a more equal gross product thats lower would be better for all , than a high gross product when only a few get it all the rest a crumb... wouldnt it ?
. Wink Wink


That is basically how oil producing countries are with their GDP. The rich CEOs are living in luxury. Meanwhile, the oil workers are on a wage equivalent to what $10/hr would be here. Working long hours week in and week out to make a reasonable living. Whilst the company sells the oil for cheap, though making good profits, the importers slap their taxes and all the associated costs for the sake of making themselves rich.

Nigeria and Saudi Arabia do that.
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freediver
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Re: Why the per capita statistic is a meaningless one!
Reply #16 - Jun 12th, 2018 at 12:37pm
 
The Saudis are doing OK. They rank 26 on median income - about a third of what ours is.
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freediver
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Re: Why the per capita statistic is a meaningless one!
Reply #17 - Jun 12th, 2018 at 9:29pm
 
Valkie wrote on Jun 12th, 2018 at 7:40pm:
If you look at Australia's emissions

And compare them to
China
The United States
England

How much do we put out in comparison?

That's all that matters
Not some twisted ideology about per capita.

Wake up and smell the roses


It's not an ideology Valkie. It's an equation.
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lee
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Re: Why the per capita statistic is a meaningless one!
Reply #18 - Jun 12th, 2018 at 9:53pm
 
freediver wrote on Jun 12th, 2018 at 9:29pm:
It's not an ideology Valkie. It's an equation.



It has no meaning in the real world. Saudi princes get megamillions from the sale of oil. Of course the workers get less. Working out per capita income would mean the workers on paper would be rich beyond their wildest dreams.
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freediver
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Re: Why the per capita statistic is a meaningless one!
Reply #19 - Jun 13th, 2018 at 7:23am
 
No it wouldn't. It would tell you what the per capita income is. It comes to about a third of ours. You have to be pretty desperate for that to be your wildest dream.

Would you rather live in a country with a per capita GDP of $100 or $100000?
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lee
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Re: Why the per capita statistic is a meaningless one!
Reply #20 - Jun 13th, 2018 at 3:13pm
 
freediver wrote on Jun 13th, 2018 at 7:23am:
No it wouldn't. It would tell you what the per capita income is.



The per capita income includes that income of the Saudi princes. Which is then generously, on paper, spread to the workers.

Unless of course the Saudi princes are exempt from being included in the income stakes.
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Re: Why the per capita statistic is a meaningless one!
Reply #21 - Jun 13th, 2018 at 3:22pm
 
So what? No-one is saying that per capita income implies communism.

Saudi Arabia ranks 36th in the world on per capita GDP, and 26th in the world on median income. So they actually share their wealth more evenly than what is typical.

Do you have an actual criticism of per capita GDP, or do you just like pointing out the bleeding obvious?
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lee
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Re: Why the per capita statistic is a meaningless one!
Reply #22 - Jun 13th, 2018 at 3:33pm
 
freediver wrote on Jun 13th, 2018 at 3:22pm:
So what? No-one is saying that per capita income implies communism.



Wow. talk about things not said. Grin Grin Grin Grin

freediver wrote on Jun 13th, 2018 at 3:22pm:
Saudi Arabia ranks 36th in the world on per capita GDP, and 26th in the world on median income. So they actually share their wealth more evenly than what is typical.



So they get up to 36th, when they include the Saudi princes income. What would it fall to if they didn't?

As to your last statement that is supposition. Bye.
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Re: Why the per capita statistic is a meaningless one!
Reply #23 - Jun 13th, 2018 at 4:30pm
 
Quote:
As to your last statement that is supposition. Bye.


What other conclusion would you draw? Do you know what median means?

Saudi Arabia ranks 36th in the world on per capita GDP, and 26th in the world on median income. So they actually share their wealth more evenly than what is typical.
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lee
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Re: Why the per capita statistic is a meaningless one!
Reply #24 - Jun 13th, 2018 at 5:49pm
 
Quote:
Limitations of Income Per Capita

Because income per capita is the overall income of a population divided by the number of people included in the population, the figure does not always give an accurate representation of the quality of life due to the function's inability to account for skewed data. Specifically, the metric does not account for the effects of income inequality. For instance, if there is an area where 50 people are making $1 million per year, and 1,000 people are making $100 per year, the per capita income is $47,714, but that does not give a true picture of the living conditions of the entire population.


https://www.investopedia.com/terms/i/income-per-capita.asp
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Re: Why the per capita statistic is a meaningless one!
Reply #25 - Jun 13th, 2018 at 6:00pm
 
Back to stating the obvious eh? Do you agree that this is BS:

lee wrote on Jun 12th, 2018 at 9:53pm:
It has no meaning in the real world.

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Re: Why the per capita statistic is a meaningless one!
Reply #26 - Jun 13th, 2018 at 6:01pm
 
Lees post sums it up perfect.

See below.

lee wrote on Jun 13th, 2018 at 5:49pm:
Quote:
Limitations of Income Per Capita

Because income per capita is the overall income of a population divided by the number of people included in the population, the figure does not always give an accurate representation of the quality of life due to the function's inability to account for skewed data. Specifically, the metric does not account for the effects of income inequality. For instance, if there is an area where 50 people are making $1 million per year, and 1,000 people are making $100 per year, the per capita income is $47,714, but that does not give a true picture of the living conditions of the entire population.


https://www.investopedia.com/terms/i/income-per-capita.asp

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« Last Edit: Jun 13th, 2018 at 6:14pm by Ajax »  

1. "There has never been a more serious assault on our standard of living than the carbon tax." Ajax
2. “Scratch the average homosexual and you will find a pedophile" Kevin Bishop (homosexual)
 
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Re: Why the per capita statistic is a meaningless one!
Reply #27 - Jun 13th, 2018 at 6:09pm
 
So why are unable to give a straight answer?

Would you rather live in a country with a per capita GDP of $100 or $100000?
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Ajax
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Re: Why the per capita statistic is a meaningless one!
Reply #28 - Jun 13th, 2018 at 6:14pm
 
Quote:
For instance, if there is an area where 50 people are making $1 million per year, and 1,000 people are making $100 per year, the per capita income is $47,714, but that does not give a true picture of the living conditions of the entire population.
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1. "There has never been a more serious assault on our standard of living than the carbon tax." Ajax
2. “Scratch the average homosexual and you will find a pedophile" Kevin Bishop (homosexual)
 
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lee
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Re: Why the per capita statistic is a meaningless one!
Reply #29 - Jun 13th, 2018 at 6:25pm
 
So you believe in the median?


An example -

4000, 6000, 20,000, 150,000. 4,800,000.

The median is the middle number of the group. IE  20,000.
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