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Ah, the true path to socialism! (lemmy.world)

submitted 6 months ago by [email protected] to c/[email protected]

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[–] [email protected] 2 points 6 months ago (1 children)

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.

[–] [email protected] 3 points 6 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.