Brad, you have written about this statistic several times. I like to know more about the statistic. Does it take into account the fact that when a self-sufficient farmer comes to town, he/she needs to purchase commodities that he/she may have produced by himself/herself? Does the statistic take into account this monetization of the standard of living? How is the statistic calculated? Is it affected greatly by the exchange rate of the Indonesian currency?
Brad De Long wrote:
> Median wages and material standards of living in Indonesia today
> are three times what they were back in 1965. And the "convergence" of
> countries that adopted substantially U.S.-style mixed-economy
> social-democratic institutions in the immediate aftermath of World
> War II--the Marshall Plan aid recipients, Japan, plus Sweden,
> Finland, Canada, Australia, and New Zealand--has been very
> impressive...
>
> Brad DeLong
-- Michael Perelman Economics Department California State University Chico, CA 95929
Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu