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What does PPP stand for in this context? I was confused by his example, too - it seems like he's suggesting that if somebody is paid less but has a proportiona
by commandlinefan 5y ago
What does PPP stand for in this context? I was confused by his example, too - it seems like he's suggesting that if somebody is paid less but has a proportionally smaller cost of living, I should still feel bad about that? Am I being insensitive for not? I feel sorry for people who are living in squalor, not people who have similar lives to my own.
- s1artibartfast 5y agoPPP = Purchasing Power Parity. It is exactly as you described. We have the same purchasing power if in my city I make $10/day and a beer costs me $10, while in your city, you make $5/day and a beer costs $5.