This map shows where the wealthy — and not so wealthy — of the world live

[zip]

pakistanis are happy ,that is all.

Everything we do is for happiness , isn't it ?

 

[SHARMA BHOPALI]

Everything we do is for happiness , isn't it ?

i said pakistanis are one of the happiest one .more than india .

 

[PakSword]

Wealth can be a misleading indicator, because a large part of it depends on the property market.

That's true, but you have to consider that property market also depends on the wealth of population. A poor population doesn't put its properties at bloated prices for sale..

If a man is putting his property price according to market value, it means that people have this much money to buy it generally..

Median income and median wealth are two measures to know how content the population of a country is.

If country A has more median income but less median wealth than country B, it means that consumer prices are much higher and population of country A can't save much.. So median income doesn't give us true picture. Median income of country B is low, but saves much and thus its median wealth increases..

 

[Mista]

That's true, but you have to consider that property market also depends on the wealth of population. A poor population doesn't put its properties at bloated prices for sale..

If a man is putting his property price according to market value, it means that people have this much money to buy it generally..

Median income and median wealth are two measures to know how content the population of a country is.

If country A has more median income but less median wealth than country B, it means that consumer prices are much higher and population of country A can't save much.. So median income doesn't give us true picture. Median income of country B is low, but saves much and thus its median wealth increases..

You're right to a certain extent.

But housing really depends largely on the socioeconomic policy of the country. Some countries want lower property value for affordability and prevention of bubble forming, some countries want higher property value for greater government revenue and economic growth. When property values spike, can we really say that the population has become better off? On paper they have become richer. But in reality they have to pay higher mortgage loan and interest every month, which affects their real standard of living.

So we can't really say that higher wealth means the population is better off. Germany may have low median income and low median wealth, but they have high social benefits to take care of the basics.

 

[Yongpeng Sun-Tastaufen]

Wealth does not really mean power. Iceland and Switzerland are the most wealthy and the weakest in terms of military relative to wealth.

 

[PakSword]

You're right to a certain extent.

But housing really depends largely on the socioeconomic policy of the country. Some countries want lower property value for affordability and prevention of bubble forming, some countries want higher property value for greater government revenue and economic growth. When property values spike, can we really say that the population has become better off? On paper they have become richer. But in reality they have to pay higher mortgage loan and interest every month, which affects their real standard of living.

So we can't really say that higher wealth means the population is better off. Germany may have low median income and low median wealth, but they have high social benefits to take care of the basics.

This is true for very few countries, such as in Middle East, where government decides the increase in yearly rent income or where government owns housing projects. In free economies, people decide the prices of there own properties.

In some middle east countries, government even tells the owners not to reduce the rent of the property even if they have to keep the property vacant. Early 2010s I saw this taking place in Qatar. I couldn't believe when I heard that government was paying the owners a fixed monthly rent to keep the prices high..
In 90 percent of the countries, government don't control the value of properties.

Germany may have low median income and low median wealth, but they have high social benefits to take care of the basics.

This is entirely different, but very true. That's why some economists suggest to compare countries with similar social benefits. US can't be compared with Germany or UK, where health benefits are immense.

 

[Nilgiri]

Median wealth per adult in a particular year and median income per adult in a particular year are though interdependent but former is a lot more volatile ..A 10% ge decrease in latter may cause 60% decrease in former ..

What you say is true on the ground to some degree (i.e ratio sensitivity not being 1:1 between total and median). But the model that Credit Suisse uses is not direct sampling of both total and median (and then use to correct each other). Rather it is to measure only total and then use a curve fit (from elsewhere) for getting median.

You can check this yourself as the median/totals over the years (ratio wise to each other) are pretty similar for whichever country you pick (because the same Gini curve from I think mid 2000s is used). It is definitely a flaw in this study....and thus why total wealth is really the only relevant number from its analysis (since they actually re-sample that each year using things like total market cap + total investment etc). There is a side issue also of how much the nominal total wealth actually buys within a country too, as it does not account for differing purchasing powers between countries (since they do not all trade/invest/consume the same between each other).

 

[Tshering22]

Oh shit I am so poor!

https://howmuch.net/articles/world-wealth-map-2018

You are in Canada.. which makes you wealthy enough