[lbo-talk] GDP per capita/Dougs comments

Wojtek Sokolowski sokol at jhu.edu
Thu Jun 24 10:27:54 PDT 2004


Ulhas:
> One can buy a loaf of good quality bread in my city (Pop. 15 mn) for
20 cents. (Things cost
> much less small towns and villages.) How much it would cost in NY?

WS: A loaf of good quality bread (not the Wonderbread variety that is more suitable for animal rather than human consumption) varies from $2 to $5 per loaf - depending on the type and the place. A comparable item costs about 50 cents in Eastern Europe. That gives you the average rate of 6:1 - which is a good ballpark indicator for difference in food prices between US and EE.

As far as restaurants are concerned, one can eat a good dinner in EE for about $10/per person - a US equivalent would be about $30-$40, depending on location. Western European restaurant prices seem comparable to those in the US.

Transportation cost: single ride on public transit in EE cost about 50-70 cents (In Russia it is closer to 10 cents), depending on location, comparing to $1.60 in Baltimore (is NY subway still $1.50?). Long distance train (approximately 200 miles) - $10 - $15 depending on the class of service comparing to $70-$150 in the US, depending on the class of service. Acela-class service is not available in EE, but it is in Western European countries - last time I traveled between Lisbon and Porto (approximately the same distance and Washington - NYC) I paid 50 euro for the round trip first class. In the US, I would have spent $300.

Housing cost varies considerably - a 2 BR apartment in Warsaw sells for $50k and rents for $1,000/mo but you can buy a similar apartment for under $10k outside Warsaw. I understand that housing cost in Western Europe, especially London, is much higher - probably comparable to those in NYC.

Wojtek



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