Ben Norton explains how the extreme inequality in the US make its average wealth misleadingly look high, and why GDP per capita is not a good measurement. He debunks the myth of "Europoors", which is often spread by Donald Trump supporters.
Democracy is an illusion! It’s become a political system fostered by the élite, for the élite, in order to fool the people that they have a stake in the system. In actual fact, they have virtually none. The whole political system in the modern era, despite having noble beginnings, is now used to benefit the few at the expense of the many. – Mark Alexander, June 29, 2018
July 11, 2026
Americans Are NOT Wealthy: The Truth about the US Economy
Juyl 11, 2026 | Many western economists and media outlets claim that Americans are wealthier than Europeans, but this is not true; it's based on a misunderstanding of the difference between average wealth and median wealth.
Ben Norton explains how the extreme inequality in the US make its average wealth misleadingly look high, and why GDP per capita is not a good measurement. He debunks the myth of "Europoors", which is often spread by Donald Trump supporters.
Ben Norton explains how the extreme inequality in the US make its average wealth misleadingly look high, and why GDP per capita is not a good measurement. He debunks the myth of "Europoors", which is often spread by Donald Trump supporters.
Labels:
US economy,
wealth inequality