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How Wealth of Nations can Swing (Patreon)

Published:
2025-09-24 15:51:40
Imported:
2026-06
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Content

Some alarming data... Eye-opening, change in real wages between 1994 and 2024 in %. These are inflation adjusted.

The Good News

Places like Poland, Latvia, Scandinavia have all seen wage growth over the last 30 years. Not sure why Denmark falls out of favor.

The Bad News

Stunning to see Italy and Spain go nowhere.

Southern Europe’s Wage stagnation is blamed by some on rigid labor laws, high taxes, and corruption, while others cite socialism. Comparisons with stronger-performing non-euro countries challenge the idea that the euro is the root problem. Specific issues include Spain’s housing bubble and austerity, Italy’s industry losses to Germany, and influx of immigrants.

I believe the EURO currency also triggers imbalances in the system.

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Comments

RemK

The USD is causing imbalances in the US? Then why would the EURO in Europe?

Matej

It’s a lot worse in Slovakia

I’ve_my_own_busyness

Without oil and gas revenues, Norway would have had a deficit of approximately 486 billion USD since 1980 and 36 billion USD annually over the last five years. The economy is heavily oil-dependent, and without petroleum, the welfare state would have been a utopia of gastronomic perspectives. Innovation and diversification are completely lacking in vision and future prospects. Approximately 850,000 of 5.5 million inhabitants work in the public sector, and the welfare system is extremely irresponsible. However, they have been ridiculously lucky and have access to boundless oil, gas, and minerals.

Matas

Lithuania on top

Dr.Pouf
>>188255223

Do you realise you are comparing a country to a Continent? The Euro DID create massive imbalance in the system, and every country joining the Euro initially got massive inflation, and wages reevaluation because of people freedom of movement in Europe. People could compare apple to Apple for the same job in a different country, and move their if the quality of life was better...

Tux

This is a biased map. Even though Switzerland seems to be at a low growth pace, it is still one of the best in the Eurozone. Without baseline, comparing doesn't make sense especially if you start with some countries where wages are very very low.

Simas Rudys

Been visiting Lithuania at least two times a year for the past decade. Can confirm that the progress is astonishing

Yiha

Netherlands is very correct. There has been - minus growth actually if you compare it how prices skyrocketed.

jim beam

Spain, like every other country, has a housing crisis where people want to live. Otherwise they dont.

DoomPrepper

Interesting. This is not good. The majority of our allies are failing while dictatorships' like China and Russia gain prominence. Thanks James.

Happy Hippo

This can't be compared fairly / former eastern Europe was coming out of communism & become free. Their salaries went up due to that.