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Purchasing power adjustment doesn't take into account cost of housing sufficiently. Those poor countries you compare NYC to have vastly cheaper housing. Also po
by scotty79 2y ago
Purchasing power adjustment doesn't take into account cost of housing sufficiently. Those poor countries you compare NYC to have vastly cheaper housing. Also poverty is not just about absolute measures. Inequality is also a huge factor. When everyone's poor property crime is somewhat lower than what you'd expect it to be. Another thing is that those poor countries have societies and infrastructure adapted to the poor. NYC would even ensure that some infrastructure is hostile to the poor.
- rayiner 2y agoNYC has vastly bigger safety net and subsidies for housing than a place like Bangkok. Countries like Thailand also have very high inequality—many city dwellers have family living in literal villages. And even if inequality was higher in NYC—doesn’t that prove it’s a moral and cultural issue rather than an economic one?