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I think that's probably quite misleading to just look at nominal value. Purchasing power parity might be a better metric, but I still don't think that captures
by dougmwne 5y ago
I think that's probably quite misleading to just look at nominal value. Purchasing power parity might be a better metric, but I still don't think that captures the difference in people's lives in different countries.
Being poor in America is means perhaps having some comforts that are rare even for middle class people in other countries. For example, the home square footage, number of appliances, size of wardrobe, number of cars, etc. But on the other hand, middle class people in a less materially rich country may have government safety nets, accessable health care, higher education, in-demand skills, ability to save and access credit, manageable work hours, and enjoy the social respect that comes with professional careers.