The British a higher dollar income per head than the Americans?!
According to Yahoo! the Sterling dollar exchange rate is currently 2.0344. Taking data from the IMF World Economic Outlook, if that exchange rate prevails at the end of the year, then UK income per capita in dollars will be $45,491, 0.0023% higher than that of the United States. Indeed given relative inflation and growth it might be the case now. This is the first time at least since 1980 this has been true, and (given sterling devaluations) quite probably since the 19th century. I personally prefer Purchasing Power Parity comparisons, but in terms of economic power some people prefer to use market exchange rates.
posted by Matthew @ 7/15/2007 10:29:00 PM
Comments: 4
