Last week Derek Scissors, a think tank analysts at the American Enterprise Institute, published an article in which he referred to an October, 2014, study by Credit Suisse that attempts to measure total household wealth by region and by country. Scissors argues that in the interminable debate about whether or not China will overtake the US as the world’s largest economy, it is widely assumed that there is only one correct way to decide the answer, and that is by comparing the GDP’s of the two countries. Some people argue that nominal GDP at the current exchange rate is the appropriate measure, whereas others prefer ... (full story)