15 May 2010

On relative poverty

I learnt yesterday that, at market prices, my income is roughly at the Norwegian poverty level threshold.

Given that my personal subjective valuation probably wouldn’t put my income level beyond any poverty threshold, we can conclude 2 things from this information.

1. Relative poverty in rich nations is a very strange concept.

2. Let’s all move to Norway!


Matt said...

At which market prices? Your consumption is determined by Juba, not Oslo prices!

Lee said...

Yeah yeah, I meant market exchange rates, not adjusting for purchasing-power.

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