”Taking the long view, and after accounting for a whirl of global crosscurrent, the U.S., in our opinion, remains the most dynamic and resilient in the world. But don’t take our word for it. In a recent special report on the U.S. economy, the London-based The Economist cited some of these nuggets: First, in 1990, America accounted for about two-fifths of the overall gross domestic product (GDP) of the G7 group of advanced countries; today it is up to about half. Second, average wages in America’s poorest state, Mississippi, are higher than the averages in Britain, Canada and Germany. Third, this year the average American worker will generate about $171,000 in economic output, compared with (on purchasing power parity terms) $120,000 in the euro area, $118,000 in Britain and $96,000 in Japan. And finally, if you had invested $10,000 in the American stock market at the end of the year 2000 you would have had about $27,000, after adjusting for inflation, by the end of 2023. If you had invested in global Equities, excluding America, you would have had only about $16,000.”
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Morten W. Langer
