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 23:06:41 GMT
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Viewed:
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3202 times
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In lugnet.off-topic.debate, Leonard Hoffman wrote:
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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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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 have been free at the time?
If you compare median income you will see that the median wage in the UK is
49000USD as compared to 47000USD, a marginal difference which is more than eaten
up by the expensive (in comparative terms) cost of living.
Tim
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Message is in Reply To:
 | | Re: USA vs. UK pay differences
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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 (...) (18 years ago, 27-Mar-07, to lugnet.off-topic.debate, FTX)
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