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Believe it or not, this takes into account living expenses. Currencies are not converted using current exchange rates, but using PPP (purchasing power parity).
by Flimm 14y ago
Believe it or not, this takes into account living expenses. Currencies are not converted using current exchange rates, but using PPP (purchasing power parity).
According to these figures, it takes the median average American on a salary of $50k two minutes to earn enough to buy a can of Coca-cola. The average Indonesian needs to work two hours to buy one, at local price.
- TheCoelacanth 14y agoLiving expenses (especially housing) vary wildly within the area that uses American dollars. Someone in San Francisco can hardly afford a place to live on $31k. Someone living in a rural area in the US can afford a pretty nice house on the same amount.
- kalterstern 14y agoOk I admit, I TL;DR'd it. Thanks for the correction.