Richest in Europe?
Jun. 21st, 2004 01:39 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
lostcarparkAccording to this report by Swedish research group
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According to <a href="http://www.timbro.com/euvsusa/pdf/EU_vs_USA_English.pdf">this report</a> by Swedish research group <a href="According to <a href="http://www.timbro.com/">Timbro</a>, Ireland will be the richest country in Europe by 2005, and the only country to equal the US average in terms of GDP per capita.
Now I haven't read the whole report, but I think in this case GDP probably doesn't tell the whole story. Ireland depends very heavily on multinationals, and in recent years a large proportion of GDP has come from the pharmaceutical and technology sectors. In other words, our GDP figure is inflated by "the Viagra effect" (Ireland being a large producer of that particular drug), without putting a lot of extra money in the average person's house.
But there is no doubt that there are a lot of wealthier people in the country. Between January and May, 147 houses were sold for over a million Euro.
My one fear is that we are in danger of becomming a nation divided, with wealthy enclaves and poor ghetoes. While our GDP may equal that of the US, I don't think our quality of life will, and we don't have anything like the level of public infrastructure other European nations that may lag behind in the numbers game have.
Now I haven't read the whole report, but I think in this case GDP probably doesn't tell the whole story. Ireland depends very heavily on multinationals, and in recent years a large proportion of GDP has come from the pharmaceutical and technology sectors. In other words, our GDP figure is inflated by "the Viagra effect" (Ireland being a large producer of that particular drug), without putting a lot of extra money in the average person's house.
But there is no doubt that there are a lot of wealthier people in the country. Between January and May, 147 houses were sold for over a million Euro.
My one fear is that we are in danger of becomming a nation divided, with wealthy enclaves and poor ghetoes. While our GDP may equal that of the US, I don't think our quality of life will, and we don't have anything like the level of public infrastructure other European nations that may lag behind in the numbers game have.
Re: GDP
Date: 2004-06-21 01:06 pm (UTC)