Much has been made of reports on all news channels in Australia in recent days
boasting that Aussies generally are twice as well off/wealthy as
what we were a decade or so back, to the tune of $250,000 for every
woman, man, child and baby in a country of just on 20,000,000 people.
That's $250,000 Australian dollars as I understand it. Using the
OECDs "Purchasing Price Parity" principle whereby they compare the
purchasing power of US dollars in the US versus our dollar in
Australia over a range of similar standard goods required to maintain
a certain lifestyle, which shows our dollar worth app. 78 cents US the
$250,000 is still high and comes down to just under $200,000US
While the TV reports simply claim we are so well off etc they dont
at any time seek to compare this figure with those of other well off
first world nations such as those more commonly thought of as either
rich or maintaining a
high standard of living, e.g USA, Germnay, Japan, Scandinavian
countries like Norway etc. perhaps even Great Britain. I suspect we
are still a little behind some of the front runners but by just how
much roughly,is my question.
Is there another way to compare perhaps?? How do we compare to the US
and Britain especially?? |