|Color Coding Key|
|GREEN||Ranked 1st for statistic|
|RED||Ranked last for statistic|
The United States' economic performance compared to other countries is strong in terms of GDP per capita as one might would guess; however, tax revenue as a percent of GDP is much lower in relation to the other countries studied.
|GDP per capita as % of US GDP||GDP per hour worked as % of US GDP||Tax revenue as percent of GDP||Tax revenue per capita||Government debt as a percent of GDP||Gross savings as a percent of GNI||Economy by rank||Social benefits and transfers||Fear of failure||TEA||Necessity driven TEA|
Where US GDP per capita is 100%, for August 2012 (updates available monthly).
Where US GDP per hour worked is 100%, for August 2012 (updates available monthly). Adjusted for Purchasing Power Parity to account for distortions caused by exchange rates. Norway's productivity is helped by oil revenues.
For most recent year (2010-11). See also Citizens for Tax Justice, June 30th, 2011.
For most recent year (2010-11).
World Development Indicators Database by World Bank, for most recent year (2011-12).
Economic performance by rank. Legatum Institute, for 2013. Purportedly attempts to answer, "Which factors in a nation's economy are associated with higher levels of per capita income? Which economic conditions are linked to higher levels of wellbeing?" Rank established by the following wealth indicators (ordered by weight): capital per worker, market size, high-tech exports, gross domestic savings, unemployment, non-performing loans, inflation, and foreiegn direct investment size and vulnerability; and the following well-being indicators (ordered by weight): satisfaction with living standard, inflation, adequate food and shelter, perceived job ability, gross domestic savings, expectations of the economy, employed, confidence in financial institutions, and 5 year rate of growth.
Social benefits and transfers in kind as a percent of GDP, for most recent year (2010-2012).
Global Entrepreneurship Monitor Global Report 2012
Extent to which the potential entrepreneur fears the risk to start a business is too great
Total Early-Stage Entrepreneurial Activity: According to the Global Enterpreneurship Monitor report, this is the keystone indicator; total people between the age of 18 and 64 who plan on or already are running a new business
Portion of TEA that is founded on the need to start a business because the individual feels there aren't any other options to fulfill in the economy, i.e. lack of job market
"Europe's Secret Success," Paul Krugman
May 25, 2014. Europe, and Northern European nations in particular, are very successful at job creation. French adults in their prime working years (25 to 54) are substantially more likely to have jobs than their U.S. counterparts. Sweden and the Netherlands do even better. "...on the core issue of providing jobs for people who really should be working, at this point old Europe is beating us hands down."
"The Comeback Continent" Paul Krugman
January 11, 2008
- GDP of EU comparable to U.S.
- Euro almost important as the dollar
- European Central Bank and the Fed govern equally
- Since 2000 employment in Europe has grown a bit faster than the U.S.
- Europeans spend less on health care even with universal coverage
"Healthy Canadian Banks" Nicolas Schmidt
April 7, 2009. American, English, and Swiss banks have fallen behind the Canadian financial system due largely to Canada's conservative limits as well as their hesitancy to accept mergers in order to avoid the risks of joining larger, global banks.
Needed indicators, unable to find on web:
Tax burden less transfers
Tax revenue as a percent of GDP is a poor indicator of the burden of government on the economy because so much tax is not really government income, but is immediately transferred back to households, and is household income or provides for health care that would otherwise have to come from household income. Transfers include social security child payments, Supplementary Security Income, Temporary Aid to Needy Families, general assistance, Food Stamps, child care aid, housing aid, and health care payments. The important question for economic performance is, how does the disincentive to work caused by taxes and transfers balance against increased social welfare and productivity benefits from some transfers?
Ownership of national debt
Percents of debt owned by foreign countries(sovereign funds) and private foreign owners
Per capita national debt owed to foreigners
Change in national debt
Percent increase/decrease over a three to six year period.
(In US debt from 2001 to 2008 increased by 45 percent.)
Seems to require off-setting indices, one for the cost of hiring a new employee, one for unemployment benefits, one for job training effectiveness, one for work requirements, one for flexibility of employers to fire/discipline workers, which combine to balance equity and economic productivity.
Average household debt and average household savings
Annual employee turnover in manufacturing
Employers rating of employees for identification with company objectives
Percent of employees fired for cause
Percent of adults aged 25 to 54 employed