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Well, a decent level of living requires suitable shelter? Then the house contributes directly to that, as do its contents. If you have sufficient wealth you can have a decent standard of living without all that much consumption.
by Colman (colman at eurotrib.com) on Tue Dec 4th, 2007 at 11:56:42 AM EST
[ Parent ]
But if your wealth consists of a big fat piece of jewellery, it doesn't have the same rent-equivalent value to you.

So, yes, I understand your argument about infrastructure. But take the UK, where the infrastructure hasn't been kept up to the point where, even if it's still a "wealthier" country than Ireland, it costs a lot of money just to move around and this is reflected in the GDP (PPP) albeit in a different way from how lack of infrastructure affects Ireland.

We have met the enemy, and he is us — Pogo

by Migeru (migeru at eurotrib dot com) on Tue Dec 4th, 2007 at 12:04:13 PM EST
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