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I wish these numbers were percentile relative to the local economy and not in made-up "international dollars." It means absolutely nothing that 1.1B people liv
by pc86 1y ago
I wish these numbers were percentile relative to the local economy and not in made-up "international dollars."
It means absolutely nothing that 1.1B people live on $3-5/day and a different 1.1B live on $5-7. Can you survive in the local economy on $2/day? Then $4/day is not that bad, and $7/day is doing pretty well.
- vlovich123 1y agoThat’s a fair criticism but given how the economy has globalized, people also exploit that discrepancy by hiring remote workers abroad so it’s not completely irrelevant
- vharuck 1y agoI'm no international poverty economist, but I imagine lower income relative to neighboring countries would still have some effect. For instance, if a poor country suffers a famine in its staple crop, can that government and its citizens afford to import food?
- pessimizer 1y agohttps://en.wikipedia.org/wiki/Purchasing_power_parity https://en.wikipedia.org/wiki/Purchasing_power_parity
- pc86 1y agoYes I'm familiar with PPP. "International dollars" is something completely different. What is your point?