[lbo-talk] GDP per capita/Dougs comments

[Chris Doss]

I might be for a purchasing power system - IF it tried to intuitive as you suggest.  But in the World Bank's PPP world the Chinese worker makes 400% more than in the money world because PPP (in effect) assumes he could come to the U.S. and do the same work (or my example of the haircutter in Nairobi market).  But, of course, the Chinese worker can't and that is one reason why he is poorer.  He would hardly think it intuitive or commonsense to assume he could.  The Chinese have  been made to look four times richer (than some other comparison) by assumptions that do not exist for them as real options and thus partly excuse away their poverty.  

 
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I don't know about Chinese, but Russians live considerably better than one would think they do looking at the official stats, as I have stated before, which makes me leery of them. (Shadow economy, fake taxes, lots of stuff almost free, no rent, free summer house, stuff like that.)

		
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