<p>^ My Principles of Economics textbook says that GDPs are not a good measure for the standard of living because it only captures productivity and neglects other factors. One of the examples it cited was leisure time: The average US worker spends 1777 hours at work each year, compared to 1362 hours in Germany. While Germany might produce less, Germans get to enjoy vastly more free time.</p>
<p>[Working</a> time - Wikipedia, the free encyclopedia](<a href=“Working time - Wikipedia”>Working time - Wikipedia)</p>
<p>Talking about productivity, the US also happens to have the largest trade deficit (imports minus exports) per capita of any country world wide. We have a large per capita productivity because we import many cheap products and services that are not worth our time. In other words, the US is rich because it exploits poorer countries. Not sure that that’s something to be proud of…</p>