Re: social-democratic illusions/ was UK Decay

[Anthony D'costa]

One of my reservations about the PPP technique is that I'm convinced that
the IMF and such use it to make global comparisons less embarrassing.
Zimbabwe's PPP at $2,030 sounds a lot better than its cash income at $540
(World Bank figures). Even so, Zim's PPP income was 8.6% of the US's in
1987, and 7.5% in 1995.

Doug

Yes, using PPP does hide the embarrassment.  But simple dollar conversions
is also misleading.  My cook just told me to get some tomatoes and I got a
kilo for Rs. 8 (roughly US 20 cents).  I bought assorted vegetables five
minutes ago for a total bill of Rs. 30, less than a dollar.  There must be
some utility of the PPP.

Anthony D'Costa