Monday, 9 January 2012

Australians Stunningly Rich and Good at Cricket

A quick update on the posting below on Australian's Are Stunningly Rich:

There has been some feedback that quite rightly points out that Australia has a lot of people who are not rich or who are genuinely poor.  This doesn't make the facts in the other post wrong - it is one problem with averages and macro-based views.  Saying Australians are stunningly rich using the per capita GDP data is still true - on average, per capita GDP is 40%, 50%, 60% and more higher than in the US, much of Europe and almost allother industrialised countries.

But it is also a bit like saying Australians are good at cricket.  This doesn't mean that everyone can send down a Gatting Googlie or can cover drive like The Don.  Clearly, not many of us can.  But Australians are good at cricket, proven by the fact that we win many more games than we lose.

Australians are also stunningly rich - even if the spoils are not being spread as evenly as they should.

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