Tuesday, February 8, 2011

India's richest 5% vs. US's poorest

"Yes, the poor in the United States are "rich" by world standards. They generally (though not always) have running water, built dwellings, access to sufficient calories (though not necessarily good nutrition), and so on. But the idea that the poorest residents of Washington, DC, have a standard of living that is as good or better than the average person in the top five percent of the income distribution in Delhi is absurd. The top five percent in Delhi generally have a very nice house (possibly more than one), luxury cars, multiple servants, will travel internationally, go to elite schools, have access to excellent medical care, and so on."

from Milanovic Graph on International Inequality | CEPR Blog