I am in a Tim Hortons, Bill Gates rolls in for a double double, the average wealth of the people in the coffee shop is now in the billions. Thats why average is a mostly useless statistic for comparing wealth. Median comparisons are usally a more accurate measure of reality. My big question, is why is resource rich Canada, not doing better than Austrialia?
Hi Steve, thanks for coming by my blog and linking!
ReplyDeleteI'm not sure why Canada isn't doing better than Australia, but certainly Oz is itself plenty resource rich. Also, as I note in my post, in Australia, mean wealth is less than twice median wealth, whereas it is close to 3:1 in Canada.
It is because Australia's resources are easier to obtain.
ReplyDeleteHi Messa probably one of the biggest factors in creating wealth. However why Australia median wealth is higher is they are a total union country. Miners are making double or triple what they do in Canada. Also they have proportional representation which make government for people not business.
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