America Is the Place to Be

With Donald Trump overseas, I’m feeling in an international mood. First off, here are average earnings in America compared to other developed countries:

As you can see, the top four countries on this list are in a class by themselves, and all of them are quite small except for the US. Among largeish countries, average income in the US is 14 percent higher than the Netherlands; 27 percent higher than Germany; 38 percent higher than France and the UK; 42 percent higher than Sweden; and 65 percent higher than Italy.

And speaking of how rich we are, I mentioned a few days ago that I was less scared of China than most people because I think their demographic problems are going to slow them down before long. In fact, they already have: China’s growth rate has gone from 10-13 percent per year in the 90s and aughts to 8 percent per year and then 6 percent per year in the teens. The chart below shows just how unlikely it is for them to catch up to us anytime soon:

In the middle growth scenario, China is still only half as rich as us even by 2050. Today, they simply aren’t in our ballpark even after three decades of miraculous growth, and they’ll probably stay that way for the rest of our lifetimes.

We have plenty of problems, but I continue to maintain that no area of the world is in better shape than we are. We’re rich now, and we’re positioned to grow faster and stay richer than just about anyplace bigger than a city state. If you disagree, I’d like to know who you’re betting on.

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Thank you!

We didn't know what to expect when we told you we needed to raise $400,000 before our fiscal year closed on June 30, and we're thrilled to report that our incredible community of readers contributed some $415,000 to help us keep charging as hard as we can during this crazy year.

You just sent an incredible message: that quality journalism doesn't have to answer to advertisers, billionaires, or hedge funds; that newsrooms can eke out an existence thanks primarily to the generosity of its readers. That's so powerful. Especially during what's been called a "media extinction event" when those looking to make a profit from the news pull back, the Mother Jones community steps in.

The months and years ahead won't be easy. Far from it. But there's no one we'd rather face the big challenges with than you, our committed and passionate readers, and our team of fearless reporters who show up every day.

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