Psychotic said:
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Average salary depends on the amount of productive jobs, which declined in the US (and I could imagine in Denmark too) for the past two decades. Wages when asjusted were flat for the whole three decades, nevertheless it didn't prevent consumption from growing thanks to stimuli provided by ponzi scheme of cheap loans, sucking out liquidity from the rest of the world. As for the standard of living, depends on what you mean by that? I'd say this's salary + infrastructure, see above, same deal with declining investment in anything but final consumption. GDP as of now is rather meaningless macroeconomic indicator that consists of various overblown bubbles.
