4 ms·
Higher average in itself does not mean that much without taking into account Purchase Power. From this https://worldpopulationreview.com/country-rankings/purch
by mejutoco 3y ago
Higher average in itself does not mean that much without taking into account Purchase Power.
From this https://worldpopulationreview.com/country-rankings/purchasing-power-parity-by-country https://worldpopulationreview.com/country-rankings/purchasin... it seems US has about a 10x PPP difference, so your main point stands.
- vidarh 3y agoThe 10x there compares local currency to USD. Given the NOK to USD exchange rate, a 10x PPP difference between NOK and USD means Norway and the US are near parity in terms of purchasing power in USD. Actually, the salaries are now much closer than I thought, so depending on exactly which measures you use I might well have been wrong that US salaries are (still) much higher than Norwegian ones. The gap used to be fairly huge.