On Monday, March 15, 2004, at 11:38 PM, Luke Weiger wrote:
> ----- 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.
well, that was the way it looked and it seemed to make the most sense, but i was afraid of overstating my case.
thanks.
j