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InvisibleGijith
Daisy Chain Eater

Registered: 12/04/03
Posts: 2,400
Loc: New York
Can someone explain Luxemburg to me?
    #3446704 - 12/04/04 07:41 PM (12 years, 7 days ago)

I've noticed that for the past five years (and maybe longer?), Luxemburg, little nation that it is, has had the highest GDP per capita in the world. And not by a small margin. This past year, Luxemburg citizens pulled in an avergage of $55,000. The next highest was the US with about $38,000.

I know very little about Luxemburg. Just what I've read in an encyclopedia. Do they have some sort of stranglehold on a natural resource? Have they perfected some sort of balance in their economy? Do they have a unique style of government? Do rich Europeans go their to die? How have they accomplished this? And how come I rarely hear anything about them? I've never heard anyone say 'I wish I lived in Luxemburg.'


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what's with neocons and the word 'ilk'?


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InvisibleAnnapurna1
liberal pussy
Female User Gallery
Registered: 05/21/02
Posts: 5,646
Loc: innsmouth..MA
Re: Can someone explain Luxemburg to me? [Re: Gijith]
    #3446832 - 12/04/04 08:03 PM (12 years, 7 days ago)

heres some more data about europe...unfortunately..luxembourg isnt there..but even without luxembourg..the US is far from being #2...and those averages are misleading..especially in the US...medians are much more reliable...


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"anchor blocks counteract the process of pontiprobation..while omalean globes regulize the pressure"...


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InvisibleKrishna
कृष्ण,LOL
 User Gallery

Registered: 05/08/03
Posts: 23,284
Loc: oakland
Re: Can someone explain Luxemburg to me? [Re: Annapurna1]
    #3447026 - 12/04/04 08:40 PM (12 years, 6 days ago)

yeah average income doesn't tell you shit. if Bill Gates walks into a bar, then the average income of the patrons of that bar is well over $1 million. by median income, the US is nowhere near number 2 - we have tons of people living below the "poverty" line - it's just that we also have quite a few uber-rich people to weigh the average. but luxemburg, i dunno. i would have thought Monaco would be the richest country in the world - they have certain laws, for example, to buy property in Monaco you have to have something like 1 million euros in a bank account (and that can't be used towards paying for your property). :shrug:


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InvisibleGijith
Daisy Chain Eater

Registered: 12/04/03
Posts: 2,400
Loc: New York
Re: Can someone explain Luxemburg to me? [Re: Krishna]
    #3447158 - 12/04/04 09:04 PM (12 years, 6 days ago)

I've got to remember to stop casually mentioning the US in this forum.


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what's with neocons and the word 'ilk'?


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InvisibleKrishna
कृष्ण,LOL
 User Gallery

Registered: 05/08/03
Posts: 23,284
Loc: oakland
Re: Can someone explain Luxemburg to me? [Re: Gijith]
    #3447187 - 12/04/04 09:12 PM (12 years, 6 days ago)

i'm just saying, mathematical averages can easily be skewed by outliers. something like the UN human development index would be a better indicator of how nice it is to live in a country for the average joe.


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InvisibleEdame
gone

Registered: 01/14/03
Posts: 1,270
Loc: outta here
Re: Can someone explain Luxemburg to me? [Re: Gijith]
    #3447191 - 12/04/04 09:14 PM (12 years, 6 days ago)



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The above is an extract from my fictional novel, "The random postings of Edame".
:tongue:

In the beginning was the word. And man could not handle the word, and the hearing of the word, and he asked God to take away his ears so that he might live in peace without having to hear words which might upset his equinamity or corrupt the unblemished purity of his conscience.

And God, hearing this desperate plea from His creation, wrinkled His mighty brow for a moment and then leaned down toward man, beckoning that he should come close so as to hear all that was about to be revealed to him.

"Fuck you," He whispered, and frowned upon the pathetic supplicant before retreating to His heavens.


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InvisibleFucknuckle
Dog Lover

Registered: 04/24/04
Posts: 6,762
Re: Can someone explain Luxemburg to me? [Re: Gijith]
    #3447517 - 12/04/04 10:36 PM (12 years, 6 days ago)

I have a very close friend that comes from Luxembourg. She is the nicest person I have ever known.

I know that unless you are born on that block you have zero chance of becoming a citizen. You can not even marry into that neighborhood.



Yes I know that it is a country...............a block sized country :smile:


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What it is, is what it is my Brother.
It is as it is, so suffer thru it.


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Anonymous

Re: Can someone explain Luxemburg to me? [Re: Krishna]
    #3447649 - 12/04/04 11:06 PM (12 years, 6 days ago)

this is GDP per capita. sure, it's not a good representation of the wealth of your regular person; it's productivity per person. luxembourg has the world's highest. the US is second.

gijith... luxembourg has large banking and steel industries. it is also one of the freest markets on the planet.


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InvisibleDirtMcgirt
in a pinch
 User Gallery

Registered: 10/20/04
Posts: 2,213
Loc: city of angels
Re: Can someone explain Luxemburg to me? [Re: ]
    #3448356 - 12/05/04 01:57 AM (12 years, 6 days ago)

Quote:

it is also one of the freest markets on the planet




you're talking straight out of your ass (anything to promote your own agenda, huh?)...

Quote:

The restructuring of the industry and increasing government ownership in Arbed (31%) began as early as 1974. As a result of timely modernization of facilities, cutbacks in production and employment, government assumption of portions of Arbed's debt, and recent cyclical recovery of the international demand for steel, the company is again profitable. Its productivity is among the highest in the world. U.S. markets account for about 6% of Arbed's output. The company specializes in production of large architectural steel beams and specialized value-added products.




Quote:

Labour relations have been peaceful since the 1930s. Most industrial workers are organized by unions linked to one of the major political parties




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"And we, inhabitants of the great coral of the Cosmos, believe the atom (which still we cannot see) to be full matter, whereas, it too, like everything else, is but an embroidery of voids in the Void, and we give the name of being, dense and even eternal, to that dance of inconsistencies, that infinite extension that is identified with absolute Nothingness and that spins from its own non-being the illusion of everything."


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Offlinephi1618
old hand

Registered: 02/14/04
Posts: 4,102
Last seen: 6 years, 6 months
Re: Can someone explain Luxemburg to me? [Re: ]
    #3448456 - 12/05/04 02:23 AM (12 years, 6 days ago)

Quote:

it is also one of the freest markets on the planet.




From the Wikipedia article, about the steel industry:
Quote:

The restructuring of the industry and increasing government ownership in Arbed (31%) began as early as 1974.




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Anonymous

Re: Can someone explain Luxemburg to me? [Re: DirtMcgirt]
    #3449389 - 12/05/04 11:44 AM (12 years, 6 days ago)

you're talking straight out of your ass (anything to promote your own agenda, huh?)...

i got that from here:

http://www.nationmaster.com/graph-T/eco_eco_fre


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Offlinephi1618
old hand

Registered: 02/14/04
Posts: 4,102
Last seen: 6 years, 6 months
Re: Can someone explain Luxemburg to me? [Re: ]
    #3449678 - 12/05/04 01:07 PM (12 years, 6 days ago)

fair enough.

That graph is based on a ranking by the Heritage foundation, a conservative think tank. It uses these criteria:

Quote:


# Corruption in the judiciary, customs service, and government bureaucracy;
# Non-tariff barriers to trade, such as import bans and quotas as well as strict labeling and licensing requirements;
# The fiscal burden of government, which encompasses income tax rates, corporate tax rates, and trends in government expenditures as a percent of output;
# The rule of law, efficiency within the judiciary, and the ability to enforce contracts;
# Regulatory burdens on business, including health, safety, and environmental regulation;
# Restrictions on banks regarding financial services, such as selling securities and insurance;
# Labor market regulations, such as established work weeks and mandatory separation pay; and
# Informal market activities, including corruption, smuggling, piracy of intellectual property rights, and the underground provision of labor and other services.





I didn't go far enoough to see how these factors were measured.

Interestingly, Luxembourg has government expenditures as a portion of the economy at 40-50%.
http://www.portrait.public.lu/en/introduction/graphe0_5.html


It is important to recognize that the Heritage Foundation has a definite interest in defining "free markets" in such a way that rich countries have free markets.

While Luxembourg probably is well-run, not corrupt, and probably has banking regulations designed to attract business, it does have a very large and intrusive government that accounts for a large portion of the economy.


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