I'm Touring The United States! Starting in June, I'm conducting private events in 23 American cities. Click here for full details.

Post Reply 
Why is Budapest so poor but looks so rich?
Author Message
Tail Gunner Offline
True Player
*****
Gold Member

Posts: 2,143
Joined: Jan 2012
Reputation: 40
Post: #64
RE: Why is Budapest so poor but looks so rich?
(05-15-2019 09:33 PM)rudebwoy Wrote:  people in Budapest aren't earning $40k per year on average.

You are correct about that. The problem in such debates is that no one bothers to read the materials that people post. If you or Klan Man had bothered to read the Wikipedia page cited by jasond, you would have seen that the comparison between countries is made in "international dollars," which is a tool used by economists to compare the economies of countries with different currencies. I was waiting to see if anyone would catch this fact but, as usual, people would rather argue than learn -- to the point of ignoring what members of the other side of the debate have posted.

Quote:The Geary–Khamis dollar, more commonly known as the international dollar (Int'l. dollar or Intl. dollar, abbreviation: Int'l$., Intl$., Int$, G-K$ or GK$), is a hypothetical unit of currency that has the same purchasing power parity that the U.S. dollar had in the United States at a given point in time.[1][2] It is widely used in economics and financial statistics for various purposes, most notably to determine and compare the purchasing power parity and gross domestic product of various countries and markets. The year 1990 or 2000 is often used as a benchmark year for comparisons that run through time. The unit is often abbreviated e.g. 2000 US dollar (if the benchmark year is 2000) or 2000 Int'l$.

https://en.wikipedia.org/wiki/Geary%E2%8...mis_dollar

So, you are correct that people living in Budapest do not make an average of $40,000 USD (because "international dollars" are based on year 2000 USD). On the other hand, the OECD's economic analysis tool (posted by jasond) very clearly proves that the average income in Budapest is very similar to the average income in Arkansas or West Virginia. That is a fact. So, unless you believe that the average person in Arkansas or West Virginia is poor, which is objectively not the case, the average person living in Budapest is also not poor. You need to realize that the word "poor" is defined by the dictionary; it is not subject to anyone's subjective whims.
(This post was last modified: 05-15-2019 10:19 PM by Tail Gunner.)
05-15-2019 10:15 PM
Find all posts by this user Like Post Quote this message in a reply
[-] The following 1 user Likes Tail Gunner's post:
Akwesi
Post Reply 


Messages In This Thread
RE: Why is Budapest so poor but looks so rich? - Tail Gunner - 05-15-2019 10:15 PM

Possibly Related Threads...
Thread: Author Replies: Views: Last Post
  Budapest Datasheet ActaNonVerba 21 11,048 Today 04:19 AM
Last Post: Bill Oreilly
  Budapest July 2018 update 2 weeks ts58 4 2,793 05-12-2019 01:19 PM
Last Post: ksbms
  My 2 weeks in Budapest wonderman 54 5,370 05-09-2019 08:10 AM
Last Post: Doinkaldinho

Forum Jump:


User(s) browsing this thread: 1 Guest(s)

Contact Us | RooshV.com | Return to Top | Return to Content | Mobile Version | RSS Syndication