Who has a general higher standard of living? American or Europeans?

Question

How do you know?

Answer 1

Americans enjoy a higher standard of living but Europeans are happier.

However, Americans are in for a rude awakening because our standard of living is on the decline.

Answer 2

It certainly would depend on your particular definition of "standard of living", I guess,but according to a study done by a Swedish think tank, it is the United States, although they are quick to point out that "standard of living" may not be everything one should consider.

The study, "The EU vs. USA," was done by a pair of economists--Fredrik Bergstrom and Robert Gidehag--for the Swedish think tank Timbro. It found that if Europe were part of the U.S., only tiny Luxembourg could rival the richest of the 50 American states in gross domestic product per capita. Most European countries would rank below the U.S. average, as the chart below shows.

The authors admit that man doesn't live by GDP alone, and that this measure misses output in the "black" economy, which is significant in Europe's high-tax states. GDP also overlooks "the value of leisure or a good environment" or the way prosperity is spread across a society.

But a rising tide still lifts all boats, and U.S. GDP per capita was a whopping 32% higher than the EU average in 2000, and the gap hasn't closed since. It is so wide that if the U.S. economy had frozen in place at 2000 levels while Europe grew, the Continent would still require years to catch up. Ireland, which has lower tax burdens and fewer regulations than the rest of the EU, would be the first but only by 2005. Switzerland, not a member of the EU, and Britain would get there by 2010. But Germany and Spain would need until 2015, while Italy, Sweden and Portugal would have to wait until 2022.

Higher GDP per capita allows the average American to spend about $9,700 more on consumption every year than the average European. So Yanks have by far more cars, TVs, computers and other modern goods. "Most Americans have a standard of living which the majority of Europeans will never come anywhere near," the Swedish study says.

Answer 3

The first point to remember is Europe is not one country =- it a diverse group of nations and peoples
There is a graet differences still between say the former Eastern Bloc countries and the Western counties and also between the North and the South.
In general the West is richer than the East , the Northern more than the South - There is also difference between the size of class difference with the northern richer ones having the smallest.

- some -like the The UK and Ireland are more like the US than say Scandinavian countries which are by default social democracies - in general the countries with the Anglo-Saxon social model have the poorest social services ..
In general the highest standard of living is in the Nordic Social democracies - In general too the average Scandinavian has a higher standard of living than Americans- while in Balkans in the South east it could be compared with the Third world.

as a whole the Europeans might see the need to 'liberalize' their economies on pragmatical grounds they're in no hurry to imitate the US. (so much for jealousy)

Answer 4

If you use averages, Europe has a higher standard of living. They have a larger middle class supported by socialist approach to government. If you remove averages and look at earning power, America has a higher standard of living, we have a larger upper middle class, but a growing low wage class earners because of the condition of our current economy.

Answer 5

There are a lot of factors that go into estimating standard of living, and how you wieght them can get you whichever answer you like.

In general, though, both would arguably have a 'high' standard of living compared to most of the rest of the world.

Answer 6

Depends on what study you look at some will say the US some will say Europe.

I'd say both the US and Europe have good standards. Some might be better in the US some might be better in Europe.

Matter of opinion....

Answer 7

I think they are pretty close. I have a friend from Germany who came to visit and had thought this country was so rich and found it to be pretty much like Germany. That was before the US really started looking like a third world country.

Answer 8

America has a higher standard for living. America is for people who want to work hard. Canada is for people who wants the government to do everything for them. They want to be babied.

Answer 9

Canadians.

Answer 10

I would guess america cause we are always trying be the best at everything.