3 ms·
If you want to measure the standard of living there a much better indicators than GDP per capita for that. PPP is also a deeply flawed concept because comparin
by ffhhttt 3y ago
If you want to measure the standard of living there a much better indicators than GDP per capita for that.
PPP is also a deeply flawed concept because comparing the quality of goods and services in the context of different consumption patterns. However if you really want to use you should look at median income (with social transfers etc.) rather than GDP.
- dereg 3y agoMedian income is not a better measure because it is blind to changes in population composition over time. Series of median income figures doesn't actually track anything. For instance, a country that accepts more lower-skilled immigrants will see its median income figures grow less than countries that accept fewer of those immigrants. Is the immigrant-accepting country poorer as a result? The only way that median income would be a valid measure of wealth or QoL would be if you isolated the cohort of those considered "median" in 2008 and tracked their wealth over time.
- ffhhttt 3y agoOr you could look at inequality, Gini and/or the 20th, 80th etc. percentiles instead. > Is the immigrant-accepting country poorer as a result? Yes, in this specific case it would be poorer per capita.