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Not surprised to see Philly on there. You essentially get NYC salaries but with 50% the rent costs. Even stuff like going out to restaurants or to drink is way cheaper. It's a very underrated city and a market inefficiency at the moment. Philadelphia=The Amenities of New York, for the price of Kansas City
Yep. I love Philly as a place to visit, but still would not want to live there.
PPP figures are a hoax designed to manipulate the masses into believing that their countries don't suck as much as they actually are. You can say how rent and utilities are cheaper in some random dump, that won't change the fact that those places are still dumps where people make slave wages and live without a shred of human dignity.
That's actually not the purpose of the PPP. The purpose is to relate average income to the local cost of a basket of goods/services from the bread basket to utilities to medical costs.
Are you going to tell me that the cost of living of the following doesn't make the difference? Such as in the following video. I would actually say the hoax is on you with governments that propagate a living wage when that just causes prices to rise as per the market value. Defeating the object
PPP figures are a hoax designed to manipulate the masses into believing that their countries don't suck as much as they actually are. You can say how rent and utilities are cheaper in some random dump, that won't change the fact that those places are still dumps where people make slave wages and live without a shred of human dignity.
Get the f- out here with this elitist crap. A lot of developing countries have their problems, but they're not dumps where people live "without a shred of human dignity". You're watching too much television. You need to adjust for local prices, unless you believe that life in Colombia is just as expensive as life in Switzerland
Get the f- out here with this elitist crap. A lot of developing countries have their problems, but they're not dumps where people live "without a shred of human dignity". You're watching too much television. You need to adjust for local prices, unless you believe that life in Colombia is just as expensive as life in Switzerland
First of all, you need to calm your **** real quick.
Adjustment for local prices is valid in cases like Switzerland and Austria, but not Switzerland and Colombia. The truth is, even taking the prices in the account, Switzerland is hands down the wealthiest country in the world, no to mention there are many products and services whose price don't fluctuate significantly, such as an iPhone, which is why nominal income is the only figure that matters.
First of all, you need to calm your **** real quick.
Adjustment for local prices is valid in cases like Switzerland and Austria, but not Switzerland and Colombia. The truth is, even taking the prices in the account, Switzerland is hands down the wealthiest country in the world, no to mention there are many products and services whose price don't fluctuate significantly, such as an iPhone, which is why nominal income is the only figure that matters.
Switzerland is indeed very wealthy, but when you adjust for the cost of living, it's much closer to the rest of Western Europe. You might think that Colombia with its $500 average incomes is unlivable, but a $500 income is enough to live in a middle class area and be able to afford necessities. Where Colombians get screwed is when they want to purchase electronics or imported fashion. I've lived in Peru before, a bus ticket there is between 15 and 30 cents depending on where you want to go, you can get a meal at a street market for 2-4 USD, a bottle of water is 40 cents, you can find apartments for as low as 200 USD a month. You won't be living a life of luxury there, but you won't be starving either
PPP figures are a hoax designed to manipulate the masses into believing that their countries don't suck as much as they actually are. You can say how rent and utilities are cheaper in some random dump, that won't change the fact that those places are still dumps where people make slave wages and live without a shred of human dignity.
You literally have no idea of what are you talking about...PPP is a much more accurate figure to judge a country's economy.
This argument between PPP and nominal figures is stupid. Both are good indicators for different things i.e. local cost of living vs international market purchasing power.
The whole argument of the cost of an iphone is such a snowflake thing to say. An iphone is not a necessity for life or even happiness and there are plenty of more economical quality options out there. Shelter, Food, Water and Clothing are the basic human needs, followed by healthcare, sanitation and education. All these factors and even technology are touched upon in the video I posted. To say cost of living has no bearing (which PPP represents) is to be uneducated in economics or just basic common sense.
Where Colombians get screwed is when they want to purchase electronics or imported fashion.
We don't. Everyone has smartphones, many people has smart tv (we have 3 at home), etc. It's cheaper than in countries like Ecuador, Argentina or Brazil.
We don't. Everyone has smartphones, many people has smart tv (we have 3 at home), etc. It's cheaper than in countries like Ecuador, Argentina or Brazil.
Yeah, almost everyone has smartphone nowadays, but a smartphone in Colombia would cost a month of the local salary, while in the US it would only be a week of local salary. Argentina has higher wages than anywhere else in Latin America but it still costs one month's salary to get a smartphone cause of stupid taxes
The whole argument of the cost of an iphone is such a snowflake thing to say. An iphone is not a necessity for life or even happiness and there are plenty of more economical quality options out there. Shelter, Food, Water and Clothing are the basic human needs, followed by healthcare, sanitation and education.
Exactly....and an iPhone can be as easily replaced by a much cheaper alternative which is as good for 99% of the time.
I can make a very solid argument, for example, that the quality of life for thew average Italian is better that the average American (two countries where I lived and I know very well), regardless of what the GDP and median salary figures say....
The average American may be able to afford a bigger car but the average Italian can afford much better quality food just to make an example....same for housing....a cardboard 5000 sq/ft McMansion or a much smaller but quality condo with tiles and granite floors?? An Italian can fly to London for 50-70 euros, from Seattle 50 bucks would not even get me to Portland.....
Italy has the second best healthcare system in the world, the US is #37.....and I could go on and on....
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