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The statistic that constantly rattles around in my head is that 70% of the world lives on less than $10/day. There's an awful long way down from here.
by Consultant32452 9y ago
The statistic that constantly rattles around in my head is that 70% of the world lives on less than $10/day. There's an awful long way down from here.
- nostrademons 9y agoPer capita world GDP is about $16K/year. That's significantly more than $10/day, but it's also significantly less than anyone in the Western world is accustomed to living on.
- pcl 9y ago$16,000 / 365 = $44 / day. And wealth and income are non-linear [1], so 70% of the population could easily be below the mean. [1] citation needed
- candiodari 9y agoYou can't calculate it like that. That's total revenue, not the amount paid out to employees. That number can only be said to be strictly higher than average daily wage. But probably at the very least 50% higher than average wages.
- closeparen 9y agoIf cities were only productive enough to hit GDP per capita of $16k/year, construction workers only expected to make $16k/year, and other potential buyers made close to $16k/year, housing would be dirt cheap. If American urban planning were in line with global norms (i.e. not built around ubiquitous car ownership), transportation would be dirt cheap or free. And outside of housing and transportation, $16k/year is a ton of money. I maintain a pretty bougie standard of living on half that.
- RestlessMind 9y agoWithout adjusting for purchasing power, that number is meaningless. What is the PPP number?