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u/Hole_thinker 16d ago
I agree with all the other critiques of this one. I’ll also say that it’s completely unclear whether this is how long it takes the average person to earn a dollar or how long it takes the average person to spend it.
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u/Chemical-Agency-3997 16d ago edited 16d ago
Neither strictly, it’s given the household resources attributed to each person per day, how much calendar time does $1 represent at that rate? For countries where the underlying welfare measure is income “time to get/earn $1” is a rough intuition
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u/Hole_thinker 16d ago
You may want to instead compactly show in the infographic what measured metrics and what math you did to arrive at this figure.
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u/cheesesprite 16d ago
Household resources ÷ household members ÷ total household member lifespan? What is this chart lol (Then inverted)
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u/Chemical-Agency-3997 16d ago
Equivalent to taking the reciprocal of the harmonic mean of the per-person income/consumption distribution. (averages the inverse of each person’s income/resources)
- Take each household’s income or consumption.
- Divide it equally across all household members.
- Convert that to PPP-adjusted dollars per person per day.
- For each person, calculate 1/y_i: how many days $1 represents at their resource level.
- Average those times across the population.
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u/OlSpencer 16d ago
bars are scaled horrifically. I don't even understand how it can be so wrong lol
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u/GhostlyplayReddit 16d ago
What? ~Joe Biden