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I don't think GDP per capita is meaningful for discussing this, precisely because of the "allocation and efficiency problem" you pointed. It's convenient to me
by sgu999 3y ago
I don't think GDP per capita is meaningful for discussing this, precisely because of the "allocation and efficiency problem" you pointed.
It's convenient to measure whether food production would theoretically be enough: take the quantities an adult need, count the throughput of optimal production of proteins, carbs etc. The cost however is meaningless because most of what we spend on is transport, marketing, storage, packaging, shelving, etc. that's what we count when we say that a household spends x% on food.
We can do the same for the volume of T-shirts, sqm of housing, etc.
- alephnerd 3y agoGlobal median income is AT MOST $3,000 PPP (at 2011 dollars) [0]. This is roughly comparable to Cambodia or Myanmar in 2011. The world is still extremely poor. [0] - https://documents1.worldbank.org/curated/en/936001635880885713/pdf/Poverty-Median-Incomes-and-Inequality-in-2021-A-Diverging-Recovery.pdf https://documents1.worldbank.org/curated/en/9360016358808857...