{"id":18,"date":"2015-09-15T10:12:25","date_gmt":"2015-09-15T14:12:25","guid":{"rendered":"http:\/\/blogs.nd.edu\/the-science-of-being-rationally-irrational\/?p=18"},"modified":"2015-09-15T10:12:25","modified_gmt":"2015-09-15T14:12:25","slug":"how-does-the-world-spend-their-money","status":"publish","type":"post","link":"https:\/\/sites.nd.edu\/the-science-of-being-rationally-irrational\/2015\/09\/15\/how-does-the-world-spend-their-money\/","title":{"rendered":"How Does The World Spend Their Money?"},"content":{"rendered":"<p>This chart from The Economist, shows how countries all over the world spend their money<\/p>\n<p><a href=\"http:\/\/www.economist.com\/blogs\/graphicdetail\/2015\/09\/daily-chart-9\" target=\"_blank\">How countries spend their money<\/a><\/p>\n<p>The chart summarizes percentages of spending into distinct categories like Healthcare, Food, Transportation, etc.<\/p>\n<p>What immediately stands out is the large proportion of healthcare spending by the United States. \u00a0Not only do households spend roughly 30% of income on healthcare, there is a staggering difference between countries. \u00a0Only Australia and South Korea spend above average amounts with the remaining countries spending below average amounts.<\/p>\n<p>Other observations include South Korea spending the most in Education at 6.7%<\/p>\n<p>Russia spending the most on Alcohol &amp; Tobacco at 8.3%<\/p>\n<p>What this chart doesn&#8217;t account for well, is the purchasing power of average income of households in different countries. \u00a0With lower incomes, wouldn&#8217;t we expect to see Mexicans spending a majority of their income on Housing, Transportation and Food?<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This chart from The Economist, shows how countries all over the world spend their money How countries spend their money The chart summarizes percentages of spending into distinct categories like Healthcare, Food, Transportation, etc. What immediately stands out is the &hellip; <a href=\"https:\/\/sites.nd.edu\/the-science-of-being-rationally-irrational\/2015\/09\/15\/how-does-the-world-spend-their-money\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2026,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-18","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/sites.nd.edu\/the-science-of-being-rationally-irrational\/wp-json\/wp\/v2\/posts\/18","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sites.nd.edu\/the-science-of-being-rationally-irrational\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sites.nd.edu\/the-science-of-being-rationally-irrational\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sites.nd.edu\/the-science-of-being-rationally-irrational\/wp-json\/wp\/v2\/users\/2026"}],"replies":[{"embeddable":true,"href":"https:\/\/sites.nd.edu\/the-science-of-being-rationally-irrational\/wp-json\/wp\/v2\/comments?post=18"}],"version-history":[{"count":1,"href":"https:\/\/sites.nd.edu\/the-science-of-being-rationally-irrational\/wp-json\/wp\/v2\/posts\/18\/revisions"}],"predecessor-version":[{"id":19,"href":"https:\/\/sites.nd.edu\/the-science-of-being-rationally-irrational\/wp-json\/wp\/v2\/posts\/18\/revisions\/19"}],"wp:attachment":[{"href":"https:\/\/sites.nd.edu\/the-science-of-being-rationally-irrational\/wp-json\/wp\/v2\/media?parent=18"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sites.nd.edu\/the-science-of-being-rationally-irrational\/wp-json\/wp\/v2\/categories?post=18"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sites.nd.edu\/the-science-of-being-rationally-irrational\/wp-json\/wp\/v2\/tags?post=18"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}