To put into perspective, in Vietnam, 12 eggs cost only $1.22 maximum (this is considered expensive).
What is the median American income btw?
To put into perspective, in Vietnam, 12 eggs cost only $1.22 maximum (this is considered expensive).
What is the median American income btw?
You hinted at it but comparing ratios of median wages is meaningless because if you fracture a bone in Vietnam you don’t have to pay several thousands of PPP adjusted dollars for treatment.
It’s not entirely meaningless but it doesn’t tell the whole story.
Still, it’s better than what you usually see people do when they try to argue which country is better off, which is simply comparing GDP, or GDP per capita, often not even taking PPP into account. Looking at the ratio of median income to costs of living, while not perfect, is still giving you a better picture of how people actually live than mindlessly citing GDP numbers.