Tag Archives: nation: Portugal

Big Trouble Brewing In Europe

Cross-posted at Reports from the Economic Front.

There is big trouble brewing in Europe.  John Ross, in his blog Key Trends in the World Economy, highlights this brewing crisis in a series of charts, some of which I repost below.

This first chart shows the extent of the recovery from the recent economic crisis in the U.S., the EU, and Japan.  While the U.S. GDP has finally regained its past business cycle peak, the same cannot be said for Europe (or Japan).  As of the 3rd quarter 2011, EU GDP was still 1.7% below its previous business cycle peak.  The Eurozone was 1.9% below.

Recent GDP estimates for the 4th quarter show European GDP once again contracting, which strongly suggests that the region is headed back into recession without having regained its previous business cycle peak.  This development implies that Europe faces serious stagnationist pressures.

gdp1.jpg

This chart looks at the growth record for the 5 largest European economies.  Germany has regained its previous GDP peak.  France is making progress toward that end.  These two countries account for 36.2% of European GDP.  However, things are quite different for the UK, Italy, and Spain.  These three countries account for 34.7% of European GDP and not only do they each remain far below their respective previous GDP peaks, their economies are once again heading downward.

gdp2.jpg

The third chart highlights the economic performance of the three countries which have received the most media attention because of fears that their governments will be unable to repay their respective debts.  They are clearly in trouble, adding to the downward pressure on European GDP.  However, despite all the attention paid to them, their combined economies are only one-eighth the size of the combined economies of the UK, Italy and Spain.

gdp3.jpg

The next two charts highlight the fact that economic trends are also dire throughout much of Eastern Europe.

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The take-away is that European economic problems are not limited to a few smaller countries.  Some of the largest are also performing poorly and apparently headed back into recession without ever having regained their past business cycle peaks.  It is hard to see Europe escaping recession.  And it is hard to see the U.S., Asia, and Africa escaping the consequences.

International Comparisons on Social Justice Measures

How does the U.S. compare to other developed countries on measures of social justice? According to the New York Times, not very well.  The visual below compares countries’ poverty rates, poverty prevention measures, income inequality, spending on pre-primary education, and citizen health.  The “overall” rating is on the far left and the U.S. ranks 27th out of 31.


Via Feministing.  See also how the U.S. ranks on measures of equality and prosperity(33 out of 33, for what it’s worth). Thanks to Dolores R. for the link!

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Lisa Wade is a professor of sociology at Occidental College. You can follow her on Twitter and Facebook.

International Comparison of Christmas Gift Spending

As we enter the last frenzied days of Christmas shopping, Dmitriy T.M. thought it was worth looking at international comparisons in spending on the holiday. The Economist posted a graph based on Gallup polls and other data sources about how much individuals in various countries in Europe, plus the U.S. and South Africa, plan to spend on Christmas shopping this year, plotted against national GDP. Overall, Christmas spending correlates with national wealth, with the Netherlands being a noticeable outlier (spending less than we’d expect) and Luxembourg in a spending league of its own:

 

Cross-National Comparisons of Years in Retirement

Does American prosperity translate into long retirements?  Not compared to other developed countries in the world.  Flowing Data borrowed OECD numbers on life expectancy and age of retirement to calculate the average number of years in retirement for men and women across many different countries.  The portion of each bar with the line is the average number of years working, while the non-lined portion represents years in retirement.

Largely because of life expectancy, women enjoy more years than men in all states except Turkey, but the number of years varies quite tremendously, from an average of zero years for men in Mexico, to an average of 26 years for women in Austria and Italy.  The United States is way down on this list, not doing so well relatively after all.

Comparison of European and U.S. Minimum Wages

I am trying to re-enter society after several days being sick, so I’m going with something short and simple today. Eden H. sent in this chart, found at Business Insider, that compares hourly minimum wages in a number of European countries to the U.S.:

The European data are available from Eurostat (though note they report minimum wages in terms of Euros per month, not hour, so the data was converted for the chart).

International Comparison of Gender and Unpaid Labor

Deeb K. sent in a story from the New York Times about who does unpaid work — that is, the housework, carework, and volunteering that people do without financial compensation. Based on time-use surveys by the Organisation for Economic Co-operation and Development (OECD), this chart shows how many more minutes per day women in various nations spend doing such activities compared to men:

Childcare stuck out as an area with a particularly large gap:

On child care in particular, mothers spend more than twice as much time per day as fathers do: 1 hour 40 minutes for mothers, on average, compared to 42 minutes for fathers…On average, working fathers spend only 10 minutes more per day on child care when they are not working, whereas working mothers spend nearly twice as much time (144 minutes vs. 74) when not working.

The full OECD report breaks down types of unpaid work (this is overall, including data for both men and women):

The study also found that non-working fathers spend less time on childcare than working mothers in almost every country in the study (p. 19). And mothers and fathers do different types of childcare, with dads doing more of what we might think of as the “fun stuff” (p. 20):

Source: Miranda, V. 2011. “Cooking, Caring and Volunteering: Unpaid Work around the World.” OECD Social, Employment and Migration Working Papers, No. 116. OECD Publishing.

International Comparisons of Equality and Prosperity

An infographic accompanying an article at the New York Times reveals how “advanced economies” compare on various measures of equality, well-being, educational attainment, and more.  To illustrate this, for each measure countries that rank well are coded tan, countries that rank poorly and very poorly are coded orange and red respectively, and countries that are in the middle are grey.  The countries are then ranked from best to worst overall, with Australia coming in #1 and the United States coming in last.  You might be surprised how some of these countries measure up.

Thanks to Dmitriy T.M. for the link.

The United States: A Nation of Immigrants?

The United States is a nation of immigrants… in that the majority of its citizens are not part of the native population of North America.  In other words, because it was and remains a colonized land.

That aside, is the United States unique in receiving an extremely large number of new immigrants relative to its size?  It turns out, No.

Lane Kenworthy, at Consider the Evidence, posted this figure, showing that the U.S. population does indeed include a substantial proportion of first generation immigrants (both legal and illegal), but it is not unique in that regard, nor does it carry the highest percentage:

It also fails to be true, as many anti-immigration people claim, that the U.S. accepts a uniquely large number of immigrants who need help once they arrive: