UK living standards outstrip the US.

[mmonk]

LIVING standards in Britain are set to rise above those in America for the first time since the 19th century, according to a report by the respected Oxford Economics consultancy.

-snip-

“The past 15 years have seen a dramatic change in the UK’s economic performance and its position in the world economy,” said Adrian Cooper, managing director of Oxford Economics. “No longer are we the ‘sick man of Europe’. Indeed, our calculations suggest that UK living standards are now a match for those of the US.”

-snip-

Oxford Economics says that while the comparisons are affected by sterling’s high value against the dollar, they also reflect longer-term factors. “The UK has been catching up steadily with living standards in the US since 2001 � so, it is a well established trend rather than simply the result of currency fluctuations,” its report says.

-snip-

America overtook Britain economically in the final years of the 19th century, during the so-called second industrial revolution, which brought mass manufacture and sharply rising prosperity to the United States.

http://business.timesonline.co.uk/tol/business/economics/article3137506.ece

[Arugula Latte]

1. But ... But ... We're Number One! In Everything! ...

Aren't we?

[mmonk]

3. Well arms sales for sure.

[Arugula Latte]

5. ...and obesity

So we've got that going for us.

[mmonk]

7. Fast food heaven.

[BlueJazz]

2. "The UK has been catching up steadily with living standards

..... in the US since 2001."

2001 ??...mmmm...2001..What happen in 2001 ???...ah..oh Yea, I know... Dumb Americans elected a Monkey to run the country.

[mmonk]

4. Yes, a simple connect the dots picture.

[leftofthedial]

6. the lives of US citizens are declining precipitously thanks to "conservative" economic policies

If we are not a second-tier country, we soon will be.




Don't worry though. Super-rich Amurkans are second to none.

[mitchum]

8. We a re now the modern Hessians...

a second-rate economy
but
a first-rate military (for what that's worth)

[melody]

9. I hate it when the US does it, and I hate it when the UK does it

This ridiculous "we're bigger and better than you" crap has got to end. It's like listening to two
siblings fight. When the US does it, Europe grumps that we're being "arrogant". But if Europe does
it, too, they've abrogated their right to complain.

The US is down now so we see this whole spate of "everything's better in the UK" stuff. I say to this
what I say to the US people who trumpet this line -- "even if it's true, who cares?" We each have to
live in our own countries and try to survive. If you need a reason to feel superior to me, go ahead and
do so. It means nothing to me.

All these international pissing contests do is increase international hatred and mistrust ... which is probably
the point.

[mmonk]

10. The problem is US policy since 2000, economic and foreign.

[melody]

12. No, the problem is primate dominance and the fomenting insanity it causes n/t

[mmonk]

21. So you see no policy connections?

[melody]

22. This has been going on for some time -- even before Bush n/t

[baby_mouse]

14. true.

[dmallind]

11. I've lived in both and still visit regularly, and I don't buy it

Median income? Sure - helped out by a declining dollar the Brits have an edge. But living standards should be a measure of real income - of what can be bought for those dollars and pounds.

Home prices in England make the bubble-paranoid here sound timid. My dad's house in a not particularly fashionable or wealthy area, built by a builder (Barratt's for the lcoals) who were and still are a punchline, is about 985 sq ft. It would sell for more than my 2500+ sq ft 4/3/3 in Lincoln NE's most sought-after neighborhood. He pays about $6.25 for a US gallon of gas. Food is far more expensive there, utilities slightly less (although that's based on two very different home sizes - a 985 sq ft house would cost less to heat here - and of course like all Brits outside super-luxury homes and very modern apartments he lacksa AC entirely. He's retired so has a better deal but my taxes would be way higher. My job pays about $40,000 less in the UK even accounting for the exchange rate strength of the pound.

NOw truts me the Brits have some advantages too - good UHC system, better public transportation, education available to most people who can pass the tests affordably enough. Quality of lufe? D epends what you value - but that's a subjective measure. Economic standard of living? Not in real terms - you simply cannot get some US amenities in the UK without being in the McCartney bracket.

[muriel_volestrangler]

23. Yeah, it's a misleading headline for the article

As the article itself later says:

The Oxford analysts also point out that Americans benefit from lower prices than those in Britain. With an adjustment made for this “purchasing power parity”, the average American has more spending power than his UK counterpart and pays lower taxes. (In the run-up to Christmas many Britons travelled to New York and other American cities to take advantage of the strength of sterling against the dollar and those lower prices.)

However, the British typically have significantly longer holidays than Americans as well as access to “free” healthcare.

Precise comparisons are impossible - things like healthcare and taxes mean you would really have to take individuals' circumstances into account. But the generalising "UK living standards outstrip US" is basically wrong.

[truebrit71]

13. Plus they have FAR superior beer....

....

[Romulox]

16. Doubtful. The micro-brew revolution in the US is over 10 years old.

At the same time, lots of "Stella" and Bud is swilled down by Brits...

[truebrit71]

17. Not doubtful at all, as any real beer drinker knows...

Micro-brews mostly taste like ass...

[Romulox]

18. OK, I can now see that you don't know what you're talking about. Enjoy your Stella Artois!

(And I know Stella isn't British, but it seemed to be the preferred swill of the "lager louts" over there...)

[truebrit71]

19. ..and you do?

..don't make me :rofl:

"lager louts"....stuck in the 90's much? :eyes:

Have you ever HAD proper English beer? Or is Stella the extent of your "experience"...??

[baby_mouse]

20. To be fair, one might have to hunt a little harder for it these days.

Bloody theme pubs...

[Romulox]

15. This study doesn't account for the cost of living, and so is almost meaningless. nt