Tag Archives: GDP per capita

Basic Salary of Lawmakers by Country

basic salary of lawmakers by country 2013How much lawmakers are paid is a sensitive issue especially in times of economic austerity, or in countries where the majority of the population lives in extreme poverty conditions.

In this chart prepared by The Economist, we can see how much lawmakers are being paid in different countries across the globe in U.S. dollars (left), and as a ratio of the gross domestic product (GDP) per capita (right).

In Nigeria, for example, lawmakers receive a basic salary of $189,000, 116 times the country’s GDP per capita. In Kenya a lawmaker makes a basic salary of $74,500, 76 times the country’s GDP per capita. Other countries were lawmakers receive the heftiest salaries include Ghana, Indonesia, South Africa, Brazil, Thailand, and India. It is worth pointing out that most of these countries are some of the poorest in the world.

In comparison, in the wealthiest nations a lawmaker’s salary as a ratio of GDP is much smaller. In Britain, that ratio is 2.7 of the GDP per capita.

 

The United States vs. China

US and China compared - final graphicThe Guardian created this comparison of the U.S. and China, comparing several indicators such as GDP growth, GDP per capita, carbon emissions, exports, literacy rate, unemployment rate, military expenditure, outdoor pollution, to name a few.

The US is ahead of China in terms of literacy rate, number of internet users, military expenditure as a percentage of GDP, unemployment rate, GDP per capita, market capitalization, and social media. On the other hand, China is ahead of the U.S.  in terms of exports, GDP growth, number of people, carbon emission, and outdoor pollution.

While the U.S. has the largest deficit in its current account, China has the largest surplus.

Wealth Comparison for the Years 1500 and 2015

wealth year 1500

wealth year 2015Comparing the levels of wealth per person for the years 1500 and 2015, as shown in these two maps, it is interesting to see how economic power has shifted from some nations to others.

Back in the 1500s, economic power was held by a majority of European nations leaded by Italy. China ranked number 23, India 53, and Japan 61. North America’s wealth was negligible compared to Europe’s, but the African region enjoyed more wealth than they do today.

A forecast for the year 2015 places Taiwan, Hong Kong, and Singapore at the top in GDP per capita. Some European nations are still wealthy, such is the case of Malta, Luxembourg, Norway, and Ireland, but Italy is not in the lead anymore. Japan’s wealth per capita has increased, and so has the United States’, but the wealth of African countries has become the lowest worldwide.

Source: Global Finance: Wealth Distribution and Income Inequality by Country