August 2009
1 post
Should We Use PPP-Adjusted Data to Discuss Global...
Most economists, even my favorite ones, use Gross Domestic Product adjusted for purchasing power parity (PPP) when they compare the “wealth of nations.” In my last post, I made a short case for why comparing income levels in the world economy should use national income calculated at foreign exchange rates (FX). Given that my assertion falls in the minority position in the world of social...