purchasing power parity

If you add up the income of all the people in Rwanda, then divide it by the number of people in Rwanda, you get $224 per person per year. 61 cents a day.

Yet people (economists) will tell you that the Gross Domestic Product per capita is $1300. The reason is that they say it's cheaper to live here so your 61 cents is really worth $3.56.

And yes, it's cheaper to live in a mud hut than an house. But is it really fair to make that adjustment? Shouldn't we also add in the cost of carrying your water from the creek a mile away? The cost of having malaria a couple times a year?

Besides, I find most things here pretty darn expensive. Remember RAV4's are $40,000. Gas is $5/gallon, cereal is $10/box. A one-minute phone call costs 30 cents, an apple $1, a coffeemaker $100 (if you can find one).

Perhaps we should adjust income the other way?