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The problem is that you have to pick a commodity that is actually the same 'value' globally, which is very difficult. For example, rice is probably worth much l
by gizmo686 13y ago
The problem is that you have to pick a commodity that is actually the same 'value' globally, which is very difficult. For example, rice is probably worth much less in Asian markets because it is grown so much there, as opposed to other regions which may have to import it, imposing additional costs for the transportation.
- negamax 13y agoThat's why poverty line is different amongst regions. What I want to know is if someone is able to buy same amount of rice in one country at poverty line as other countries or how much does it vary.
- gizmo686 13y agoMy point was that the relative value of goods could change. Even if someone in Ireland cannot buy as much rice as someone in India maybe they could buy more potatoes, because potatoes are easier to grow in Ireland while rice is easier to grow in India. If we want to use food as a metric, we would probably want to use some abstract measure of nutrition (maybe $/calorie).
- negamax 13y agoI see what you mean now. You are right, purchasing power of calorie/nutritious value would be a better metric.