Posted by: Anonymous Coward
on March 16, 2006 06:22 AM
The way US counts unemployment rate does not compare to most of Europe. It does not count people who stay home for one reason or another and not receiving unemployment benefits, nor does it count you if you are unemployed for a long time because you fall out of the system. In Europe most people who don't work are counted as unemployed, whatever their reason or status.
GDP/PDB counts the wrong thing. For example, a big chunk of the US GDP is made of lawsuits between US-based companies and individuals, whose net result is at best 0. Most (if not all) other countries get by with much less litigation, and therefore, less costs. US might still end up top if litigation was removed from GDP, but I haven't seen anyone do that calculation actually.
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Re:some thoughts on this story
Posted by: Anonymous Coward on March 16, 2006 06:22 AMGDP/PDB counts the wrong thing. For example, a big chunk of the US GDP is made of lawsuits between US-based companies and individuals, whose net result is at best 0. Most (if not all) other countries get by with much less litigation, and therefore, less costs. US might still end up top if litigation was removed from GDP, but I haven't seen anyone do that calculation actually.
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