Americans are good at a lot of things. It is a great country to live in, but America is not the richest country in the world. At least, it’s not the richest country in the world in terms of Gross Domestic Product (or GDP) per capita.
GDP per capita is a measurement that’s used to determine all of a country’s wealth divided by its population. GDP is not a measure of how much money each individual person in that country has, especially in countries in which most of the wealth is held by the richest 1%. GDP tells you how much money everyone in the country would have if the country’s wealth was shared equally among all citizens. It’s simply a way of measuring how well a country is doing. Let’s see where America stands on this list.
Czech Republic — GDP per capita: $37,370
The Czech Republic has figured out how to run its economy smoothly. They came up with an export-oriented social market economy that thrives on services, innovation, and maintaining a high-income welfare state. They’re no slouches when it comes to their economy.
They may be a part of the European Union, but they use their own currency, the Czech koruna, rather than the Euro. As of May 2019, the Czech Republic earned the lowest unemployment rate of all countries in the European Union at 2.2%.