[LMB] OT: India/third world
paal at filker.org
Thu Oct 16 17:32:40 BST 2014
There is a huge caveat involved--what is the living standard in terms of
healthcare, access to clean water, the local economity cost of living, and
affordability of baskets of goods and services.
The buying power in the local economy in India is not commensurate with the
official exchange rate--CDs are less expensive there proportionally, while
goods imported from the USA are more expensive Books in the USA as
disproportionately less expensive apparently than on Great Britain.
A dollar buys a lot more stuff in most countries, than it does in the USA.
That means that someone in Idnai getting paid a quarter of what someone in
the USA gets, has -more- local buying power and gets lot more stuff per
dollar spent, than someone in the US would get spending four dollars..
From: Damien Sullivan
Sent: Thursday, October 16, 2014 09:55 AM
To: Discussion of the works of Lois McMaster Bujold.
Subject: Re: [LMB] OT: India/third world
On Thu, Oct 16, 2014 at 01:07:01PM +0100, Marc Wilson wrote:
> You don't even have to go third-world. I read a story somewhere from
>  India is rapidly moving out of that category, at least economically.
It's had some rapid growth rates, but it still has a long way to go;
GDP/capita of $1,500. PPP allegedly $4,000. Average growth rate for
the past 4 years of 4%, the lowest since 1998. That India can do things
like a Mars orbiter is more a sign of how big India is.
Consider that the mean income/capita for the world is $10,000. Median
is undoubtedly lower, though one link claims a median *household* income
of $10,000 (PPP? must be). The poorest countries are around
$500/capita, the richest non-oil states around $50,000, the geometric
mean is $5000. No matter how you cut it, India's still in the poorer
half of the world.
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