Okay, but are they worse off because they can't afford as much stuff? They don't seem to be in more poverty, they're healthier, more fit and highly educated.
I can spend an extra 20k as well or poorly as I like.
I can spend an extra 20k as well or poorly as I like.
> They don't seem to be in more poverty
They're clearly not 'more in poverty'. The point is that they spend (the US equivalent) of Trillions of dollars per year for comparable outcomes.
>They're healthier, more fit and highly educated.
This is a matter of culture, not economics. The US already spends more per pupil than all of the 'top 5' nations, with worse outcomes. [0]