4 ms·
It's $1.9 at purchasing-power parity, worldwide. For example, in India $0.3 has about the same purchasing power as $1 in the US. US$1.9/day is thus about Rs 4
by jpatokal 11y ago
It's $1.9 at purchasing-power parity, worldwide.
For example, in India $0.3 has about the same purchasing power as $1 in the US. US$1.9/day is thus about Rs 400/day in India, which is survivable. For example, a simple meal at a food stall will be under Rs 100.
- john_butts 11y agoSo poverty then. Or I don't understand your math?
- john_butts 11y agoLike, I'm not trying to be snarky, there's a lot of conversions going on there that aren't explicated. My takeaway is that if you can buy food and little else, that's poverty, right? Or no?
- industriousthou 11y agoOh, it's totally poverty. Just not extreme poverty.
- witty_username 11y agoWell, if you have a home and can cook food 400 Rs/day isn't too bad. (With 100 Rs you can get some vegetables more than a kilo of rice) Buying from a food stall is going to be somewhat more expensive than cooking food yourself. And food stall prices vary depending on quality of the food. Also, poverty definitions vary. EDIT: 400 Rs/day = 12000 Rs/month which isn't horrible.
- isolate 11y agoI think the emphasis is on the word "extreme", kind of like critically endangered vs. just endangered for wildlife.
- tuckerman 11y agoI think this is the definition of extreme (absolute) poverty vs poverty. http://www.un.org/documents/ga/conf166/aconf166-9.htm http://www.un.org/documents/ga/conf166/aconf166-9.htm
- solutionyogi 11y agoI was born and brought up in India. When I was going to school in 1990, my dad used to earn around 6,000 INR / month (120$/month, exchange rate was 50 back then). We ate out probably once every few months but even then, the salary was enough to feed family of 5 and send me and my sisters to school. I think you lack the perspective on how poor India and China is.
- areyousure 11y agoThis source https://en.m.wikipedia.org/wiki/Indian_rupee_exchange_rate_history https://en.m.wikipedia.org/wiki/Indian_rupee_exchange_rate_h... seems to suggest that the exchange rate was 1 USD < 20 INR throughout 1990. In fact, the exchange rate doesn't seem to have hit 50 until over twenty years later.
- HeyLaughingBoy 11y agoWhat's your point?
- areyousure 11y agoIt was simply a correction to the following portion: "6,000 INR / month (120$/month, exchange rate was 50 back then)". Assuming the accuracy of the salary, it appears the following is more accurate: "6,000 INR / month (300$/month, exchange rate was 20 back then)".
- pratyushag 11y agoRs. 100 is $1.5... nowhere near the $0.3 purchasing power you mentioned!