Evan McKenzie on the rise of private urban governance and the law of homeowner and condominium associations. Contact me at ecmlaw@gmail.com
Monday, September 22, 2008
CARPE DIEM: Size of U.S. State Economies vs. Foreign Countries: "We often lose sight of: a) how big the U.S. economy is, b) how productive American workers, and how much we produce vs. other countries. After all, who can get their mind around $13 trillion, the size of the U.S. economy measured by GDP ($13,000,000,000,000)?
World GDP is about $47 trillion according to the CIA World Factbook, so the U.S. economy produces more than 30% of world output every year, with just 5% of the world's population."
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A little perspective helps to get a sense for the kind of money this bailout represents. The map that accompanies the post is astounding. Russia=New Jersey???
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