[lbo-talk] question on poverty and world bank's PPP

Luke Weiger lweiger at umich.edu
Mon Mar 15 20:38:57 PST 2004


----- Original Message ----- From: "Jeffrey Fisher" <jfisher at igc.org> To: <lbo-talk at lbo-talk.org> Sent: Monday, March 15, 2004 11:32 PM Subject: [lbo-talk] question on poverty and world bank's PPP


> ok, stupid question, but when the world bank says that (as of 1999,
> iirc) 2.1 billion people lived on less than $1/day using the dollar as
> a marker of "purchasing power parity", does that mean the buying power
> of US$1 no matter where you are in the world, or does it mean the local
> equivalent of what US$1 would buy in the states?

The latter may seem "impossibly small," but it's true.

-- Luke



More information about the lbo-talk mailing list