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this post was submitted on 26 Apr 2024
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The number I gave above is inflation adjusted. To be more specific showing the divide, these are the numbers from the ILO.
According to the ILO, after inflation adjustments, global north workers make on average ~11x more than global south workers. They're essentially working with capital and productive technology from the 21st century, but getting paid wages from the 1800s.
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.