the introduction of euro in the Baltic states rapidly made everyone poorer and as these countries didn't really recover from the Great Recession, it slowed their growth even further

can't say anything about Slovakia, though

how do you prove you got poorer when theres growth <:thonking:318673885497262091>

GDP growth doesn't make you richer

all goods became less affordable at once

Apart from this I wonder how people would react when they would realise they get 3 euro per hour when french get 12 for same work <:haha:318675605233336330>

hi

hi kitty

they shouldnt introduce the euro in eastern europe

until theyve already caught up

^ this

yeah in 600 years lol

but western europe are the ones benefiting

so it makes sense why it is this way

not Western Europe, but Germany specifically

germany is western europe

>GDP growth doesn't make you richer
im just like

stunned

and dont even know what to say

you don't need anything to say

do you like alternative economics or what

are regular economics alternative now

if gdp doesn't in general make country richer then it's like we're talking about maths and you're saying 1+1=3 it's ooh

what can I say

there is nothing to talk about becuase theres no foundation you can base anything on

what else you propose to measure economic performance

I specifically stated the introduction to euro made consumer goods less affordable, therefore rendering the population poorer -- whatever GDP growth rates are present, the purchasing power is much more relevant

of course im well aware of pecularities of gdp and that high gdp doesnt necessarily mean people are well off but I dont see much of it applying here and anyway, these are details, in rought terms gdp *always* applies and theres no going over it

>whatever GDP growth rates are present, the purchasing power is much more relevant
but there exist a thing called GDP PPP to measure that

GDP PPP of Russia and Poland matched before 2014, sometimes Russia even surpassed Poland, yet I don't really need to point out which country was doing better

im well aware of this fact and I know why thats the case the explanation is rather straightforward

yet that explanation will be irrelevant in relation to you not being comfortable with my statement about poverty and introduction to euro in Baltic states

simple as

not being aggressive or something

but again in case of poland and russia still gdp applies and there is nothing wrong with it, it's people misleadingly interpreting it

I mean yeah you totally can have poverty and high gdp growth

wait what did I say in thebeginning

ahh

the point was about dynamics of both, my initial statement referred to poverty increasing while GDP continues to grow

what I mean is not really the case of Estonia is that in general higher GDP = richer country(not people!)

yeah i just misunderstood you I think