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Old 11-15-2006, 01:45 PM   #16
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Originally posted by INDY500
India #126? Disappointing, I would have thought higher given their economic growth.
While India has a high economic growth the past few years, the standard of living is still very low. I read a few weeks ago that the people living in poverty has decreased with less than 1 percentage-point compared to a few years ago. Yes, many more people live above the poverty line than a few years ago, but with the high population growth the absolute number of people living in poverty was still rising (I think).
So there's still a lot to be done to raise the standard of living here.
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Old 11-15-2006, 04:29 PM   #17
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I'm really surprised that New Zealand is lower on the list than the UK. Must be all those Brits emigrating there lowering the tone!
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Old 11-15-2006, 07:41 PM   #18
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I'm really surprised that New Zealand is lower on the list than the UK. Must be all those Brits emigrating there lowering the tone!
New Zealand's been slipping over the past few years. I think we were up around 6th just four or so years back.

Maybe moving to Australia wasn't such a bad idea after all ...
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Old 11-15-2006, 10:11 PM   #19
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Ireland's minimum wage is nearly ten dollars (7.65 euros), I think this has a lot to do with the prosperity there. America's minimum wage is paltry in comparison.
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Old 11-15-2006, 10:21 PM   #20
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Originally posted by all_i_want
less than 31 people per square mile?

Petroleum income has certainly been a transforming factor for Norway, and the wealth from that will certainly continue to provide high living standards to the country for years to come. It is an interesting example of sustainable petroleum wealth.
Norway = 12/km2

Australia = 2.6/km2

Greenland = 0.026/km2

http://en.wikipedia.org/wiki/List_of...lation_density
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Old 11-16-2006, 12:07 AM   #21
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Originally posted by najeena
Ireland's minimum wage is nearly ten dollars (7.65 euros), I think this has a lot to do with the prosperity there. America's minimum wage is paltry in comparison.
It might have an impact if a good chunk of the population was living on minimum wage, but the vast majority of people in both countries are not. In fact, with unemployment so low in the United States now, wages are rising naturally as employers compete to catch the dwindling number of workers.

Ireland is at #4 now, but only a couple of years ago, it was not even in the top 10. The United States has moved up two spots from last year to #8. There are many different factors that go into determining the standard of living in a country. But both countries are doing so well economically and have very small levels of unemployment that its unlikely that the minimum wage level has much effect.
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Old 11-16-2006, 08:16 AM   #22
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Dismiss it all you like, a living wage means good things for any country and it's people.
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Old 11-16-2006, 09:38 AM   #23
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Dismiss it all you like, a living wage means good things for any country and it's people.
A minimum wage that is too high in economically uncertain times will only create more unemployment as employers will be unable to afford to hire such workers. You have to think about how it impacts the economy as a whole rather than simply looking at how it impacts a single individual. Higher unemployment is not a good thing for any country or its people. In high performing economies like Ireland and the United States currently, minimum wage can be high or raised because most employers are already paying more than that sum for their lowest paid workers.
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Old 11-17-2006, 10:45 AM   #24
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A minimum wage that is too high in economically uncertain times will only create more unemployment as employers will be unable to afford to hire such workers. You have to think about how it impacts the economy as a whole rather than simply looking at how it impacts a single individual. Higher unemployment is not a good thing for any country or its people. In high performing economies like Ireland and the United States currently, minimum wage can be high or raised because most employers are already paying more than that sum for their lowest paid workers.
Uncertain times? We're told by the government that our economy is fabulous. You put us up with Ireland as a high performing economy, so why are we so vunerable? The eye-popping amount we owe foreign countries? A house of credit cards can't be stable, no matter how you spin it.
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Old 11-17-2006, 10:55 AM   #25
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Originally posted by A_Wanderer
Norway = 12/km2

Australia = 2.6/km2

Greenland = 0.026/km2

http://en.wikipedia.org/wiki/List_of...lation_density
So you guys have a pretty big continent over there, hmm?
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Old 11-17-2006, 01:19 PM   #26
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Uncertain times? We're told by the government that our economy is fabulous. You put us up with Ireland as a high performing economy, so why are we so vunerable? The eye-popping amount we owe foreign countries? A house of credit cards can't be stable, no matter how you spin it.
I specifially stated that the United States and Ireland could increase the minimum wage at the current time because the vast majority of people around those wage levels are already making more than that giving the strength of the economy and the low level of unemployment. I never said that these were uncertain times for the economy, but that during times that are uncertain, a minimum wage hike or one that is to high, actually hurts workers on the bottom as business's can't afford to higher them all.

Every country around the world has a substantial level of debt. The current US level of debt is around 65% to 70% of annual GDP. In 1946 just after World War II, the US debt level was 150% of GDP. That high debt level though did not dappen the economic boom in the United States after World War II.

While the United States has a lot of foreign debt, much of the world depends on being able to export their goods to the largest market on the planet, the United States. China may hold a lot of US foreign Debt, but their continued economic growth is heavily dependent on its exports to the United States. The United States by comparison does not export nearly as much to China. In the event of a crises, China has more to lose than the United States does.
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