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How to Compare Cost of Living Across Countries
How do you compare living standards between countries when exchange rates swing wildly for reasons unrelated to local costs? This episode unpacks the real methodologies behind purchasing power parity (PPP), from the playful Big Mac Index to the World Bank’s massive International Comparison Program. We explore why a dollar in Istanbul buys a different life than a dollar in Tel Aviv, the statistical duct tape holding global economic data together, and whether the US dollar is even a fair yardstick for comparison. If you’ve ever wondered what “international dollars” actually are, or why GDP…
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