Tuesday, December 11, 2007

Update: America's Ridiculously Large Economy

The map above (click to enlarge) is an updated version of this map, based on 2006 GDP by state available here, and GDP by country available here.

It's hard to comprehend the enormous size of the U.S. economy ($14 trillion), but this map puts $14,000,000,000,000 into perspective. See previous CD posts
here, here, here, and here.

14 Comments:

At 12/12/2007 5:15 AM, Anonymous Richard said...

The GDP of the US is indeed very large.

But it is smaller than the European Union.

 
At 12/12/2007 6:45 AM, Blogger easymoney said...

The U.S. government is about as big as the economy of China or the United Kingdom.

 
At 12/12/2007 8:46 AM, Anonymous marmico said...

Shouldn't you consider PPP GDP? On that basis, it ain't so ridiculously large.

PPP GDP

Wanna lay a wager that Guangdong and Mumbai provinces in Chindia will exceed California PPP GDP by 2020?

 
At 12/12/2007 2:16 PM, Anonymous marketlink said...

How about superimposing companies as states?

 
At 12/12/2007 3:48 PM, Blogger Thomas Blair said...

marketlink,

The world's largest company, ExxonMobil, had revenues of $376b. The largest state, California, had a gross state product of $1.62t. CA would be the world's 7th largest economy were its own country. There are no companies to match with individual states. They're that big.

 
At 12/12/2007 4:02 PM, Blogger Mark J. Perry said...

Thomas Blair: Thanks for you comments, I also checked into that, and it would be difficult to match one company with each state. One alternative would be to list several companies for large states like CA.

 
At 12/12/2007 6:06 PM, Blogger Thomas Blair said...

Mark,

Even listing a handful of companies to match each state would be exceedingly difficult. Given the exponential decay in the size of businesses as listed largest to smallest, by the time you get to smaller states, you're listing companies no one has ever heard of. The top 5 largest in the world - ExxonMobil, Wal-Mart, Royal Dutch Shell, BP, and GM - have combined revenues slightly less than CA's GSP ($1.512t & $1.67t, respectively). It's huge.

 
At 12/12/2007 8:00 PM, Blogger juandos said...

From the same folks who were incapable of warning this country about terrorist towel heads using civilian airliners as cruise missles we have the following:
European Union: GDP (purchasing power parity): $13.08 trillion (2006 est.)

US of A: GDP (purchasing power parity): $13.06 trillion (2006 est.)

Good call Richard...

 
At 12/13/2007 5:13 AM, Anonymous Richard said...

Juandos,

If you include the Brits, the Norwegians and the Swiss in the european economy (they are not actually part of the Euro-zone, but their economy is very closely linked to it, just look at the exchange rate, and the Brits are part of the EU), It is even more clear.

Further, if you calculate ppp on a 'median' basis, not on a 'average' basis and you compensate for the significant less hours work, the difference is even greater.

Does somebody have some numbers on that?

Btw: Shell is an Anglo-Dutch company, and Toyota is slightly more profitable as GM.

 
At 12/13/2007 5:45 AM, Anonymous Anonymous said...

juandos said...

From the same folks who were incapable of warning this country about terrorist towel heads using civilian airliners as cruise missles


juandos are we to assume that Professor Perry is now sanctioning hate speech on his blog by not deleting your post?

What is a towel head?

Besides if you had bothered to read anything about 9/11 you would know that the Bush received plenty of advance warning of attacks and did nothing.

Given that most of the hijackers were from Saudi Arabia what are we doing in Iraq that had zero ties to terrists and NO weapons of mass destruction?

 
At 12/13/2007 10:01 AM, Anonymous Anonymous said...

Anonymous 5:45 am:

Let's see, Clinton had 8 years to do something and did nothing.

Bush had 8 months and somehow he's to blame while Clinton bears no responsibility.

You have an awful naive view of reality.

 
At 12/13/2007 10:57 AM, Anonymous Anonymous said...

anonymous 10:01

I look at the facts. Clinton screwed up worse than Bush regarding stopping the attacks but Bush had his chance too and did nothing.

To make it worse Bush then blames the wrong country and thousands of good American lives are sacrificed for nothing. Nothing at all. History will not be kind to Mr. Bush et al.

 
At 12/14/2007 1:53 PM, Anonymous Anonymous said...

The EU has many more people. The US will be much larger than the EU within the next several decades, simply due to the fact that the US will outgrow it (whih it has been doing for the past 20 years).

 
At 12/14/2007 1:56 PM, Anonymous Anonymous said...

marmico,

The GDP PPP stats on China and India are greatly exaggerated. the World Bank now says that they are 405 overvalued, and will be downsized soon.

 

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