Comments on: India Is Florida

By: akak

akak — Fri, 18 Jan 2008 03:21:12 +0000

Here are the CIA figures on the gap between the nominal and the adjusted GDPs: GDP (purchasing power parity): $4.164 trillion (2006 est.) GDP (official exchange rate): $805.5 billion (2006 est.)[Link] 4 Trillion dollars is twice that of California, the richest state on the map.

Last month the World Bank released new figures based on revised PPP estimates, that pretty much halved the GDPs of CHina and India -- putting them at about 5.3 trillion and 2.5 trillion respectively. Things are cheap there, but apparently not that cheap. But there is some debate about it.

By: rob

rob — Thu, 17 Jan 2008 23:01:10 +0000

brown, thanks–wikipedia really does have everything! I missed that concise page.

By: brown

brown — Thu, 17 Jan 2008 22:19:24 +0000

Rob,

Here is a wikipedia link to a list of US states by nominal GDP.

By: rob

rob — Thu, 17 Jan 2008 22:13:03 +0000

Floridaâ€™s the #3 US State ahead of NY? that doesnâ€™t seem 100% right

Vinod, Your intuition is correct! I was suspicious too, so I looked it up--while Florida and NY have similar populations, per-capita income in NY is about 33% higher than FL, giving NY clearly over 1 trillion in GDP and FL clearly less. No clean link to provide, but you can piece it together from Wikipedia.

By: Camille

Camille — Thu, 17 Jan 2008 20:38:41 +0000

I’m with Ennis on the adjustment. At least an adjustment in real per capita terms would be instructive

Floridaâ€™s the #3 US State ahead of NY? that doesnâ€™t seem 100% right

Vinod, this is probably because New York State does not see the same “big city boom” that the City does — the areas outside of metro NYC (e.g. factory towns, farms) have been in a recession for the last 15+ years. Their economic drag has to be measured against the bursts in the NYC economy. Also, a portion of metro NYC’s economic activity is redistributed across state lines (i.e., Jersey, CT).

That’s quite impressive for a small state like New Jersey.

Jersey is not that small when you take a look at its population It also has one of the highest rates of income disparity in the U.S. I think that would be an interesting map, as well. Which states measure up against which countries in relation to income inequality?

By: bulbul

bulbul — Thu, 17 Jan 2008 17:58:39 +0000

5# New Jersey â€“ Russia (GDP #15 at $733 billion)

That's quite impressive for a small state like New Jersey.

By: bulbul

bulbul — Thu, 17 Jan 2008 17:52:54 +0000

11 Â· vinod said

I was just thinking of how much it would make my French and Canuck friends squirm to see their proud nations portrayed as California and Texas.

Majority of the Canadian citizens will squirm to be associated with Texas but not the Prime Minister Stephen Harper. He's a Dubya wannabe.

By: Candadai Tirumalai

Candadai Tirumalai — Thu, 17 Jan 2008 15:45:23 +0000

India has clearly become one of the world’s largest economies but its per capita income (even after adjusting for PPP) lags well behind. Fifty years ago the per capita income of South Korea may have been comparable to India’s. But today I believe that the Korean per capita is $20,000 and it is aiming for $40,000. Of course South Korea is much smaller and less diverse in its population. Still, India has a long way to go. Somebody I know has just moved from Washington D.C. to New Hampshire after years in the capital because money goes much further in the Granite State.

By: rob

rob — Thu, 17 Jan 2008 03:59:35 +0000

8 Â· Ennis True, but note that if you look at the market for phsyician incomes, for example, they make more in rural areas than in, say, NYC or California. So, the market seems to demand a higher pay even though cost of living is low.The higher prices in some areas come with certain amenities (weather, proximity of “interesting” people, more food choices, etc.), Right, but the extent to which they are paid more for living in rural areas gets masked unless you adjust for cost of living. Imagine a doctor gets $200,000 in NYC and $250,000 in rural Arkansas. Looking at nominal salaries ignores the fact that $250,000 in rural Arkansas is the same as $500,000 in NYC, so he’s actually making 250% of what he would make in NYC not 112%.

Ahh–very nice point–I missed that!

By: bytewords

bytewords — Thu, 17 Jan 2008 03:45:09 +0000

still no canadian comment? they are being mistaken for texas. winter is always bad there i guess .

i agree with kurma re: france though. ca is not a bad comparison, and some—as kurma pointed out, and i am in that boat as well—would think ca is a step up.