Global Rich List

[nwatson]

$1 in the US will buy you much less than $1 in Thailand. Raw income comparisons don't work. $32,400 in San Francisco is poverty (my conjecture) for a family of four.

At least appeal to something like The Economist's Big Mac index.

[logfromblammo]

The value of currency has very little to do with absolute quantity, and everything to do with proportions and distribution.

If you can outbid 99% of the people at your marketplace for the things you want, you're in the richest 1%. That number is not the same in New York City as it is in Lagos.

[noname123]

This is true. But quality of life is much better in US. Even the homeless have access to shelters and the poor to food stamps. We should be grateful for our fortunate circumstances instead of being greedy and wanting more.

[cylinder]

Being "rich" is about wealth, not income! Very frustrating that this argument is always targeted towards income.

[dkuntz2]

Income is a fairly large factor for most people's wealth...

[hhjj]

When you are "top 1%" you need not to work (income is very misleading).

[bargl]

I think the real point here is for the OP to show that there is a huge disparity in what we consider to be poor and what people in other countries consider to be poor.

Sure $1 can get you more in Bolivia or Haiti but things like Playstations and TVs are WAY more expensive there. Yeah I can get rice and shitty medicine for $10. But overall high quality items are hard to get.

And yes you don't have wealth, but the potential is there. This just shows your earning power as compared to others regardless of spending. Even then your potential is high. Many people in other countries live in shitty one bedroom homes that are completely open.

It is meant to be a reality check, and yes "rich" is about wealth, but give yourself 20 years and how will you have spent your potential wealth, I'd argue that income is a decent indicator of potential wealth...

[beachriot]

Thank you. I think some people at nitpicking at what the point of the article is getting at, but at least you got it.

[Mchl]

I like how I'm in 1% for income, but in 13%-17% in wealth. Fourty more years and I might be able to own a flat.

[ramayac]

A little outdated... The Salvadorean "Colon"[1] isn't used in that country since 2001.

[1] http://en.wikipedia.org/wiki/Salvadoran_col%C3%B3n

[tinalumfoil]

As much as I appreciate the concept, you need to adjust for buying power for these numbers to be worth anything.

[phatfish]

Well it shows how wealthy you are on a global scale. I expect the average westerner on $32,000 wont realize they are in the top 1% (globally). It's certainly interesting to think about, you then realize just how much money (and power) the super rich have.

[_random_]

Oh really? Please explain this to London real estate market.

[medecau]

ITT: new IP to avg. income db.