• OBJECTION!
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    7 months ago

    The $2 per day is a figure used by the World Bank. According to this page:

    The welfare of people living in different countries can be compared by adjusting for differences in the purchasing power of their currencies.

    I don’t know the exact details of the World Bank’s methodology, but I believe the $2 figure is adjusted based on purchasing power.

    • papertowels@lemmy.one
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      7 months ago

      That sent me down a cool rabbit hole, thanks!

      Industrialization is a hell of a drug. During the same period apparently the wealth gap shot up, so chinas got that to contend with. Best of luck to them.