4 ms·
> The $1 is measured in international dollars. This means it buys the same amount of goods and services in any country as a US dollar does in the United States.
by codethief 6mo ago
> The $1 is measured in international dollars. This means it buys the same amount of goods and services in any country as a US dollar does in the United States. It is often used alongside purchasing power parity (PPP) data. The “time” refers to a day of life for anyone, at any age and in any circumstance — not just the hours worked by someone with a job.
So IIUC this "average poverty" (measured in time per international dollar) includes people living off social welfare? Otherwise, if it only included the working population, wouldn't we have
average poverty ≝ (average yearly income* of the working population / 1yr)⁻¹
and so it should be inversely proportional to the average yearly income* metric mentioned in the article?
*) Adjusted for purchasing power, i.e. measured in international dollars.
- runako 6mo agoFrom a linked article: >For these purposes, income includes earnings from work, government benefits and other sources of money, and it is averaged among all family members. Yes, it is supposed to include income from all sources. https://theconversation.com/measuring-poverty-on-a-spectrum-instead-of-an-arbitrary-line-conveys-a-more-accurate-picture-of-inequality-271912 https://theconversation.com/measuring-poverty-on-a-spectrum-...
- codethief 6mo agoHuh, I must have missed that. Thanks!
- mwhitfield 6mo agoNo, it's average poverty ≝ average(1 / annual income) Inversely proportional to the harmonic mean of average yearly income.
- codethief 6mo agoAh, you're right. I added the (·)⁻¹ at the very end, when I noticed the units on both sides didn't agree, and forgot about the average.
- laurencerowe 6mo agoI don't think that's quite right, it would be the average of the inverse hourly wage not the inverse of the average hourly wage. >>> import statistics >>> 1/statistics.mean([10,30,100]) 0.02142857142857143 >>> statistics.mean([1/10, 1/30, 1/100]) 0.04777777777777778