Alberto Cottica on Nostr: 6/ The World Bank defines extreme poverty as the conditions of the people whose ...
6/
The World Bank defines extreme poverty as the conditions of the people whose income is lower than 1.9 dollars a day, measured in purchasing power parity (PPP).
https://en.wikipedia.org/wiki/Purchasing_power_parity
PPPs were invented to normalize monetary measures to the different cost of living in different countries. Intuitively, a salary that barely allows a single individual to survive in Tokyo might support comfortably a family of four in Bucharest.
The World Bank defines extreme poverty as the conditions of the people whose income is lower than 1.9 dollars a day, measured in purchasing power parity (PPP).
https://en.wikipedia.org/wiki/Purchasing_power_parity
PPPs were invented to normalize monetary measures to the different cost of living in different countries. Intuitively, a salary that barely allows a single individual to survive in Tokyo might support comfortably a family of four in Bucharest.