Does the equation also say that the average population is getting richer as economic freedom grows or is the wealth centered to a wealthy elite?
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Does the equation also say that the average population is getting richer as economic freedom grows or is the wealth centered to a wealthy elite?
It is the average GDP per capita. Not sure if arithmetic average or median.
Thanks, its more interesting for me to look at the average population and see their purchasing power than use the GDP term.
Just wonder where Sweden is on the list because I dont think we rank so well on economic freedom and taxes, but people are still generally wealthy.
Yes, there are some outliers, mostly oil-rich countries like Kuwait, UAE or Norway. For details you would need to look up the source mentioned.