StoneTemplePython
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fresh_42 said:But what is purchased? Different goods have very different prices. E.g. energy in Norway is cheap, beer is not, and EU citizens dream of American gas prizes. PPP doesn't say anything, if I look it up or not. The best purchase index is probably still the Big Mac index.
so the spirit of the Big Mac Index is the spirit of PPP. Yes. The Economist came up with the Big Mac index as something of a joke a few decades ago but it proved to be unreasonably effective. It also has a merit of being simple and pretty transparent.
fresh_42 said:Sure, but they are not explained with those charts. Even a simple issue as unemployment isn't by any means comparable. As long as the figures are given without an explicit link to the measurement methods, they are as worthless as any unproven statement. It's politics, not sound science.
Which I haven't done. O.k. I mentioned the figures of unpaid work, but this is a fact and easy to support. Quite the opposite is true: I request a proper description of the data taken. A bar diagram is not even close to it. I asked whether capital earnings are part of the data or not, which is a valid question.
It definitely is a valid question. However I feel different on estimates of "stuff" being produced in countries that don't have massive grey market economies. (Note unemployment is tricky and overly technical about whether people 'want' to be in the labor market -- this seems to be necessary but frequently gives the wrong impression unfortunately.)
Further, the bar charts have footnotes for sources. In particular, one of the two bar charts explicitly cites the "Bureau of Labour Statistics" for the 2006 GDP per hour worked numbers (which they cutely misspelled as British). I presume this page is what you'd want to comb through: https://www.bls.gov/ilc/intl_gdp_capita_gdp_hour.htm#table01
per that BLS page
Gross domestic product (GDP) is the market value of goods and services produced by labor and capital in a country, regardless of nationality (see table 4).
in general you wouldn't want include capital earnings, just the amount of stuff being produced. (And yes 'production' includes services.)
By tradition, the private sector accounting for 'stuff' produced is allocated to L and K (as in Labor or Kapital) as a nod to Marx.
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I don't view The Economist's reporting of data from BLS as being politics. And I do view BLS as being a pretty good data source.
Economics is not exactly on sound footing as a 'science' but I'm not suggesting predictive models or causation here -- just (economic) accounting. And yes even the accounting is difficult but it is a considerably more modest goal than predictive modeling.
The other picture cites conference board: https://www.conference-board.org/data/ and CERA. I have lingering concerns that CERA may be too political right now, though the chart and its data is a few years old.
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It may be that you're genuinely interested in the details underlying this data... there was a time when I was too. I've gone through some of this in detail a while back -- I find it rather unpleasant these days. You're certainly welcome to go through those links (BLS in particular) but it may warp your brain.
Unfortunately in the real world I observe an overwhelming trend where people only ask detailed questions about data when it makes them feel uncomfortable (cognitive dissonance). It's this bit of pattern recognition that I picked up on -- fairly or not. No offense intended. Es tuet mir leid if any was caused.