this is a good run down, with one nit, probably caused by availability of data. Gdp per capita is not a good metric, because its a mean, so verp vulnerable to outliers, and because it represents generation of wealth regardless of if that money stays in the state.
North Dakota is an oil state.
It has a median household income of $68,000, meaning half of all households bring in less than that.
It has a mean income per capita of $37,343
11.5% of people in north dakota live in poverty
north dakota ranks 39th for poverty, which is better than middle.
This is an example of how different stats will have different results. When looking at poverty rates, out of the ten worst, only New Mexico is not a right-to-work state.
Thank you. I’m not a fan of GDP. If you and I started crotch kicking businesses and paid each other $1,000,000 dollars to kick each other in the crotch, we just contributed $2,000,000 to the GDP with nothing of value created. My testicles hurt and your $PARTS hurt.
I even question the usefulness at high levels. It doesn’t measure how much wealth is produced. Say our GDP is 10 billion. Let’s say 2 billion is tshirts that suck and get thrown away. Next year we make tshirts that last 5 years and our GDP is 11 billion because they cost more. Year 3, it shrinks to 9 billion because we don’t have to make as many tshirts. We are better off in year 3 than year 1 by a billion, because we actually kept those shirts instead of tossing them.
I would like to see GDP numbers adjusted for useful production. E.g. since 40% of food is trashed, cut that portion of the GDP by 30% (we need some wiggle room so a bad crop doesn’t cause a famine)
This is great qualifying information and I think this shows that you can’t just take the back of a tee shirt at face value. Who knows what the wearer meant by “poorest states.”
this is a good run down, with one nit, probably caused by availability of data. Gdp per capita is not a good metric, because its a mean, so verp vulnerable to outliers, and because it represents generation of wealth regardless of if that money stays in the state.
North Dakota is an oil state.
It has a median household income of $68,000, meaning half of all households bring in less than that.
It has a mean income per capita of $37,343
11.5% of people in north dakota live in poverty
north dakota ranks 39th for poverty, which is better than middle.
This is an example of how different stats will have different results. When looking at poverty rates, out of the ten worst, only New Mexico is not a right-to-work state.
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Thank you. I’m not a fan of GDP. If you and I started crotch kicking businesses and paid each other $1,000,000 dollars to kick each other in the crotch, we just contributed $2,000,000 to the GDP with nothing of value created. My testicles hurt and your $PARTS hurt.
deleted by creator
I even question the usefulness at high levels. It doesn’t measure how much wealth is produced. Say our GDP is 10 billion. Let’s say 2 billion is tshirts that suck and get thrown away. Next year we make tshirts that last 5 years and our GDP is 11 billion because they cost more. Year 3, it shrinks to 9 billion because we don’t have to make as many tshirts. We are better off in year 3 than year 1 by a billion, because we actually kept those shirts instead of tossing them.
I would like to see GDP numbers adjusted for useful production. E.g. since 40% of food is trashed, cut that portion of the GDP by 30% (we need some wiggle room so a bad crop doesn’t cause a famine)
deleted by creator
This is great qualifying information and I think this shows that you can’t just take the back of a tee shirt at face value. Who knows what the wearer meant by “poorest states.”
They don’t know either.