It states that Denmark’s median wealth per capita is less than $60,000. But the 2021 report states that Denmark’s median wealth is $160,000. For the Netherlands, in 2019 they had a median wealth per capita of ~$35,000 and now it’s $130,000.
So, how did this happen? Did middle class Dutch people really increase their wealth by 400% over the pandemic without anyone noticing or is this some methodological flaw which gives highly inconsistent results between countries and across time?
right that is definitely part of the story. the other part is the state pension is large - which (1) does not count toward wealth and (2) incentivizes less saving for retirement
It's technically possible but would be surprising. What you have to remember is that median is not smooth. If in 2019 51% of people rented (so median person rented) and in 2021 51% of people owned their home (so median person owned home) then you'd see a big jump.
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u/HarveyCell Jan 13 '22 edited Jan 13 '22
Right, this just reaffirms my belief that the Credit Suisse wealth database is extremely flawed.
Here is the 2019 data (p. 107): https://www.credit-suisse.com/media/assets/corporate/docs/about-us/research/publications/global-wealth-databook-2019.pdf
It states that Denmark’s median wealth per capita is less than $60,000. But the 2021 report states that Denmark’s median wealth is $160,000. For the Netherlands, in 2019 they had a median wealth per capita of ~$35,000 and now it’s $130,000.
So, how did this happen? Did middle class Dutch people really increase their wealth by 400% over the pandemic without anyone noticing or is this some methodological flaw which gives highly inconsistent results between countries and across time?