Subject:
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Re: USA vs. UK pay differences
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Newsgroups:
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lugnet.off-topic.debate
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Date:
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Tue, 27 Mar 2007 22:11:40 GMT
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Viewed:
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3055 times
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In lugnet.off-topic.debate, Ted Godwin wrote:
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In lugnet.off-topic.debate, Leonard Hoffman wrote:
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“The minimum wage in the UK is roughly $10/hr USD against the US’s
$5.15/hr.”
In other words, the average American is poorer than the average Briton, and
therefore less able to pay the same prices for the same product.
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Not neccessarily true. You cannot make a broad generalization simply based on
the average wage in dollars. The average American pays less for everything
than the average Brit so may or may not be “poorer” in material goods and
access to services.
I wish I’d paid attention to the few discussions of logic I have attended. I
am sure there is a fancy latin phrase to describe your error.
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Of course relative buying power plays a big point. I earn approximately half of
my British counterpart, but my house, food, etc costs half as much as well. My
point is that comparing British to American at strict monetary conversation
rates doesn’t make sense, which is what many Europeans have tended to do when
complaining about how their sets are more expensive than American sets.
-Lenny
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Message has 1 Reply:
 | | Re: USA vs. UK pay differences
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| (...) Your mistake is to compare minimum income instead of median income. The minimum wage is not a good representation of the earnings of a country. In fact until about a decade ago the UK didn't have a minimum wage so would that mean LEGO should (...) (17 years ago, 27-Mar-07, to lugnet.off-topic.debate, FTX)
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Message is in Reply To:
| | Re: USA vs. UK pay differences
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| (...) Not neccessarily true. You cannot make a broad generalization simply based on the average wage in dollars. The average American pays less for everything than the average Brit so may or may not be "poorer" in material goods and access to (...) (17 years ago, 27-Mar-07, to lugnet.off-topic.debate, FTX)
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