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<blockquote data-quote="rickyb" data-source="post: 3795242" data-attributes="member: 56035"><p><a href="https://twitter.com/paulkrugman" target="_blank"> <strong>Paul Krugman</strong>Verified account @<strong>paulkrugman</strong></a></p><p></p><p></p><p></p><p>Paul Krugman Retweeted Matthew Yglesias</p><p></p><p>Um, actually this is a bad take. I know something about these issues, and saying that America is "richer" doesn't get at what's really going on. Yes, we have higher GDP per capita. But you need to ask why 1/</p><p></p><p>Consider Denmark. Danish GDP per capita is 16 percent lower than US GDP per capita. But what lies behind that difference? It turns out that Danish productivity, measured by GDP per hour worked, is essentially identical to US productivity 2/</p><p></p><p></p><p></p><p></p><p></p><p></p><p></p><p></p><p></p><ul> <li data-xf-list-type="ul"><br /> <a href="https://twitter.com/paulkrugman" target="_blank"> <img src="https://pbs.twimg.com/profile_images/2044852218/NYT_Twitter_Krugman_bigger.png" alt="" class="fr-fic fr-dii fr-draggable " style="" /> </a></li> </ul><p>And the percentage of Danes employed is also basically the same as the percentage here 3/</p><p></p><p><img src="https://pbs.twimg.com/media/DqTMlpdVAAE309E.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" /></p><p></p><p></p><p></p><p></p><p></p><p></p><p></p><p></p><ul> <li data-xf-list-type="ul"><br /> <a href="https://twitter.com/paulkrugman" target="_blank"> <img src="https://pbs.twimg.com/profile_images/2044852218/NYT_Twitter_Krugman_bigger.png" alt="" class="fr-fic fr-dii fr-draggable " style="" /> </a></li> </ul><p>But the Danes work many fewer hours -- not because of mass underemployment, but because they have made policy choices that give them much more vacation time 4/</p><p></p><p><img src="https://pbs.twimg.com/media/DqTM4J3U4AAu-Rb.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" /></p><p></p><p></p><p></p><p></p><p></p><p></p><p></p><p></p><ul> <li data-xf-list-type="ul"><br /> <a href="https://twitter.com/paulkrugman" target="_blank"> <img src="https://pbs.twimg.com/profile_images/2044852218/NYT_Twitter_Krugman_bigger.png" alt="" class="fr-fic fr-dii fr-draggable " style="" /> </a></li> </ul><p>So saying that Denmark is poorer than the US, while not exactly false, misses what's really going on, which is different decisions about work-life balance. And given Denmark's superior performance on many quality of life indicators, is there good reason to say they're wrong? 5/</p></blockquote><p></p>
[QUOTE="rickyb, post: 3795242, member: 56035"] [URL='https://twitter.com/paulkrugman'] [B]Paul Krugman[/B]Verified account @[B]paulkrugman[/B][/URL] Paul Krugman Retweeted Matthew Yglesias Um, actually this is a bad take. I know something about these issues, and saying that America is "richer" doesn't get at what's really going on. Yes, we have higher GDP per capita. But you need to ask why 1/ Consider Denmark. Danish GDP per capita is 16 percent lower than US GDP per capita. But what lies behind that difference? It turns out that Danish productivity, measured by GDP per hour worked, is essentially identical to US productivity 2/ [LIST] [*] [URL='https://twitter.com/paulkrugman'] [IMG]https://pbs.twimg.com/profile_images/2044852218/NYT_Twitter_Krugman_bigger.png[/IMG] [/URL] [/LIST] And the percentage of Danes employed is also basically the same as the percentage here 3/ [IMG]https://pbs.twimg.com/media/DqTMlpdVAAE309E.jpg[/IMG] [LIST] [*] [URL='https://twitter.com/paulkrugman'] [IMG]https://pbs.twimg.com/profile_images/2044852218/NYT_Twitter_Krugman_bigger.png[/IMG] [/URL] [/LIST] But the Danes work many fewer hours -- not because of mass underemployment, but because they have made policy choices that give them much more vacation time 4/ [IMG]https://pbs.twimg.com/media/DqTM4J3U4AAu-Rb.jpg[/IMG] [LIST] [*] [URL='https://twitter.com/paulkrugman'] [IMG]https://pbs.twimg.com/profile_images/2044852218/NYT_Twitter_Krugman_bigger.png[/IMG] [/URL] [/LIST] So saying that Denmark is poorer than the US, while not exactly false, misses what's really going on, which is different decisions about work-life balance. And given Denmark's superior performance on many quality of life indicators, is there good reason to say they're wrong? 5/ [/QUOTE]
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