3 ms·
Meanwhile the average rent in Germany is roughly $900/month while it's over $1,000/month in Mississippi. Personally I thought that Purchasing Power Parity attem
by runnerup 3y ago
Meanwhile the average rent in Germany is roughly $900/month while it's over $1,000/month in Mississippi. Personally I thought that Purchasing Power Parity attempted to adjust for regional differences in costs - obviously it heavily depends on your "personal" basket which is why I'm focused on "the typical citizen growing up in this area".
What am I supposed to be using median income for? If "GDP/capita (PPP) is what economists use to compare wealth", as you say, then what do those same economists that you're talking about use median income metrics for? I accept that I might be using median income wrong, but I'm curious what using it "right" looks like.
- jntvjnvutnuvt 3y agoGood catch. You're right that rent is cheaper in Germany than Mississippi, which I did not know.