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http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP) http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP) Quote: "Using a PPP basis is arguably
by mbenjaminsmith 16y ago
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP) http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)
Quote:
"Using a PPP basis is arguably more useful when comparing generalized differences in living standards on the whole between nations because PPP takes into account the relative cost of living and the inflation rates of the countries, rather than using just exchange rates which may distort the real differences in income."
Thailand ranks #24, #23 and #24 in those lists. I rounded up. You picked a list to illustrate your point (that Thailand and the Philippines are poor?). I picked one that better reflected GDP vs cost of living, which was my point.
I wasn't jumping down his throat specifically, I was saying that the term "third world" as applied to Thailand (and other countries) is a worthless description today. As the original commenter pointed out, it's related to the geopolitics of the Cold War. People often swap it for "developing nation" which is a euphemism for "undeveloped by Western standards" which I think is condescending and a culturally biased value judgement. When someone says "third world" I would say they either don't really understand the economics involved or are deliberately being derogatory to another people/nation. I think that's pretty safely called ignorance.
- wcarss 15y agoThe PPP is not without flaws for these uses; compare the average standard of life in China or India to the average standard of life in the Netherlands or Canada, and compare their PPP rankings. If you're looking to compare quality of life, while not perfect, I would imagine the Human Development Index would be closer in line with average experience: http://en.wikipedia.org/wiki/Human_Development_Index http://en.wikipedia.org/wiki/Human_Development_Index
- yummyfajitas 15y agoYour list corrects for cost of living, but does not correct for population. On your list, Liechtenstein ranks as 159. Lichtenstein has a GDP per capita of $91k/year (PPP adjusted), but $91k/year x 36k people doesn't amount to much. Does that make them poor? By contrast, Thailand's GDP per capita is just under $4k/year (PPP adjusted), about 1/20 that of Liechtenstein.