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I hate comparisons like this; purchasing power parity GDP is much different and much more useful for comparisons than raw GDP. "National purchasing power parity
by scottlocklin 8y ago
I hate comparisons like this; purchasing power parity GDP is much different and much more useful for comparisons than raw GDP. "National purchasing power parity income" is the old timey comparison that actually measures what you want to measure. Otherwise you're mostly just comparing how cheap the rent is in Belarus.
- davidzweig 8y agoIs there some number for how much value your foreign dollars buy you in different economies? GDP = $ people earn, PPP GDP = GDP * [value for money fudge factor], so maybe: [value for money fudge factor] = PPP/GDP ?
- dionidium 8y agoI agree with you. I grabbed a crude, available measure. But my argument stands by most ways of measuring (and the one I chose, while crude, doesn’t tell us nothing, despite what some of the commenters here suggest). It's more difficult to find PPP data for cities than it is states, but here's the latter: https://en.wikipedia.org/wiki/Comparison_between_U.S._states_and_countries_by_GDP_(PPP) https://en.wikipedia.org/wiki/Comparison_between_U.S._states... And for Belarus: https://tradingeconomics.com/belarus/gdp-per-capita-ppp https://tradingeconomics.com/belarus/gdp-per-capita-ppp You're right to notice that it's a better measure, but it still favors the spirit of my argument.