Sorry, let me clarify. I didn’t mean inflated to refer to actual inflation, I just meant that due to the hegemonic, high value of the dollar that most goods in the US are overpriced and US workers pay more than they should for them
Ah I think I follow. So PPP-adjusted stands for (purchasing-power-parity-adjusted), and it means that it normalizes the cost of a broad basket of goods. So inflation-adjusted in this context means prices normalized across countries, not $$$-inflation over time.
edit: whenever we post these, that's usually the argument, that things cost more in the global north. But these figures already adjust for that, otherwise the ratio would be probably 1000s of times more.
Sorry, let me clarify. I didn’t mean inflated to refer to actual inflation, I just meant that due to the hegemonic, high value of the dollar that most goods in the US are overpriced and US workers pay more than they should for them
Ah I think I follow. So PPP-adjusted stands for (purchasing-power-parity-adjusted), and it means that it normalizes the cost of a broad basket of goods. So inflation-adjusted in this context means prices normalized across countries, not $$$-inflation over time.
edit: whenever we post these, that's usually the argument, that things cost more in the global north. But these figures already adjust for that, otherwise the ratio would be probably 1000s of times more.
Makes sense I guess