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by somenameforme 1347 days ago
That's nominal, severely outdated, and severely misleading. Ireland is the third richest [1] country in the world on paper as far as GDP/capita PPP measures, while in reality the household income/capita is a small fraction of that. The reason their GDP is so high is that hundreds of multinationals (including Google, Facebook, Apple, etc) filter large sums of money through Ireland in tax avoidance schemes. It's one of the best examples of how GDP is a very silly metric.

Incidentally, it's also the only country in the EU with a higher GDP/capita than the US.

[1] - https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)...

1 comments

Ireland was probably a bad example. And agree GDP is a silly metric. A lot of macroeconomic metrics seem to be :-( . But comparing GNI per captia [1] (which AFAIK excludes profits from multinationals) Ireland is at more or less the same level as US (slightly ahead in 2021 apparently but only slightly). So I think my point still stands?

As for national incomes - see my comment below but unless you are subtracting out costs for healthcare and other services offered to all citizens that are not offered by the US government you are not comparing apples to apples either.

[1] https://data.worldbank.org/indicator/NY.GNP.PCAP.CD?location...