Meet Hamid. He is a “reserve driver” for a motorised rickshaw in Dhaka, Bangladesh. This job earns him about $70 per month, with which he supports his wife Khadeja and their son. This works out at about $0.78 per person per day. Yet despite this low income, the family have an impressively wide range of financial activity.
And what about purchasing power parity (because a dollar goes much further in Bangladesh were things are cheap)? That multiplies family income by 3:
Multiplying the $0.78 per person per day by 2.88, gives a PPP amount of $2.08 per person per day.
All of this is from the freely downloadable first chapter of The Portfolios of the Poor. Yes I’m a bit slow to this, but I live in a country that doesn’t have any book shops yet, so leave me alone.