"For currency conversion we use Purchasing Power Parity Dollars (PPP$) in order to take into account the difference in cost of living between countries; PPP$ are also less susceptible to short term fluctuations."
im no economist, but i cant help but feel thereis a huge flaw with PPP comparisons between first and third world countries.
if someone made $0.08/hr in the US, they would starve. homeless people make a lot more than this in the states. but somehow, people manage to raise whole families on those wages in third world countries. what am i missing?
the tool does count trees though. i find it relevant to discuss whether it counts 1e2 trees or 1e6, or a seemingly unsurvivable wage with one that in reality sustains families.
I think that's exactly what PPP is about, though: income is converted to how much you have the power to purchase, so it's designed specifically to equalize that comparison. Or maybe I'm misreading.
if someone made $0.08/hr in the US, they would starve. homeless people make a lot more than this in the states. but somehow, people manage to raise whole families on those wages in third world countries. what am i missing?