Hacker News new | ask | show | jobs
by bigfudge 729 days ago
The median EU citizen is not getting poorer relative to the median US citizen. Don't confuse growing income inequality with "national wealth".
1 comments

GDP per capita of EU used to be higher than the US.
And then poorer countries joined the EU. I'm not an economist but I think that's how it's supposed to work.
I'm not sure that's ever been true on PPP? It may have been on a nominal basis from time to time due to a weak dollar (1 EUR hit 1.60 USD or so during the financial crisis), but that's of limited interest for the average person.