https://www.nasdaq.com/articles/worlds-5-richest-nations-by-gdp-per-capita-2021-05-20 Why does Australia, with its huge competitive advantages, perform so poorly in this regard? How incompetent are our politicians or are we just paying for past failures?
With the exception of the USA, all of those countries have small populations. Luxembourg- 600k Switzerland- 8.5 million Ireland- 4.9 million Norway- 5 million Luxembourg and Switzerland are financial hubs of Europe and Norway has natural resources. I was surprised that Ireland was on the list but I guess it's a tax haven as Ireland has fairly ordinary living standards.
Canada and Australia would have been up there if the followed Norway's model (state ownership and investment for the future).
Our country performs better and in line with capabilities. Imagine your footy team had all the best players but kept coming last. Plus poor performance sets a precedent for future government and thr lifestyle of generations of Australians.
