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>> Nominal GDP per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore using a basis of GDP
by purple-again 8y ago
>> Nominal GDP per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore using a basis of GDP per capita at purchasing power parity (PPP) is arguably more useful when comparing differences in living standards between different nations.
If you live in a roach infested box in California you need to be putting dollars in the bank and have an exit plan to take those dollars to somewhere with a much lower COL someday, otherwise...you live in a roach infested box with a very high GDP!
- dpark 8y agoYou do realize that most of California is not the Bay Area, right? Also you sound pretty bitter. I never saw a roach when I lived in Mountain View, though my apartment was pretty small.
- purple-again 8y agoHmm not sure how you could take away such a poor interpratiaton of my comment. I’m actually having a great day and one of the best years of my life. At the time of my comment, very early in the submission, all of the other comments were drawing false conclusions about what is being presented. GDP comparisons tell you nothing about the lives of the people living in those two areas being compared. My original comment was meant to point that out to an audience that may not have spent much time studying economics.
- dpark 8y agoMaybe because you made reference to living in a "roach infested box in California" not just once but twice. If your goal was just to educate people about the shortcomings of GDP as a measure of living standard, the social commentary about California's high cost of living didn't help.