World Data Comparison III - Europe Economic Development Metric Analysis

Continuing with the usage of the Development Metric, the country listing from the quadrant analysis in the Social Spending and Economics and Assets and Values postings was amended adding the calculated metric. There were no new surprises but it does provide for a better evaluation, excluding earnings distribution, among the countries.[revision 11/17/2011]

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Updated 1/27/2011: Sorted the European countries listed from the quadrant analysis by the Development Metric. (Note the metric sorted location of Portugal, Greece, Spain, and Italy in the list).

U.S.A. Economic Development

Update 12/21/2010: Just wanted to acknowledge the new US Census population data compared to the estimates used in the worksheets and analysis of this post. The estimate used in the analysis from wikipedia was 0.6% greater than the actual count in the 2010 Census. Because the actual population count is less than the estimate, the US measurement metric increased by 0.01 with similar small adjustments to State metric measures. The impact does not change the narrative assessment of the analysis.

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As an extension of previous data analysis of world development, I looked at a comparative assessment of United States economic development as well as some countries around the world using available data from wikipedia and the CIA Fact Book. Primarily, it began as an initiative to find some relative measure to compare activity and levels of development regarding political discussions of states competing for corporate investment. Multiple factors are considered for such activity depending on the objective of the corporation and theoretically, an educated, multi-skilled work force has higher earnings. 
A note of importance: The data is economic activity not individual earnings!

The basic calculation of the measure is the state % of US economic activity divided by the state % of US population [US Basis]. I have additional work on a world basis for the upcoming World Data Comparison II updated blog post. The Development Metric provides a quick comparative level assessment of US development (regions and states). Since the total United States activity is the basis of measurement its metric is 1.00 relative to the individual states, although not reflected for reasons that may be obvious to some. The Metric of 4.44 and 5.37 is the World Economy basis Development Metric.

Obvious economic impacts are (1) the petroleum industry in Texas and Alaska; (2) finance industry in the Northeast; and (3) the political and lobby spending in DC (not a state but included anyway).