The number I gave above is inflation adjusted. To be more specific showing the divide, these are the numbers from the ILO.
According to the ILO, after inflation adjustments, global north workers make on average ~11x more than global south workers. They’re essentially working with capital and productive technology from the 21st century, but getting paid wages from the 1800s.
Inflation-adjusted Average Wage Rates for male workers in 2007
_
Monthly wage for OECD workers
$2,378
Monthly wage for non-OECD workers
$253
Hourly wage for OECD workers
$17
Hourly wage for non-OECD workers
$1.50
Factoral Difference between OECD and non-OECD wages
Sorry, let me clarify. I didn’t mean inflated to refer to actual inflation, I just meant that due to the hegemonic, high value of the dollar that most goods in the US are overpriced and US workers pay more than they should for them
Ah I think I follow. So PPP-adjusted stands for (purchasing-power-parity-adjusted), and it means that it normalizes the cost of a broad basket of goods. So inflation-adjusted in this context means prices normalized across countries, not $$$-inflation over time.
edit: whenever we post these, that’s usually the argument, that things cost more in the global north. But these figures already adjust for that, otherwise the ratio would be probably 1000s of times more.
The number I gave above is inflation adjusted. To be more specific showing the divide, these are the numbers from the ILO.
According to the ILO, after inflation adjustments, global north workers make on average ~11x more than global south workers. They’re essentially working with capital and productive technology from the 21st century, but getting paid wages from the 1800s.
Sorry, let me clarify. I didn’t mean inflated to refer to actual inflation, I just meant that due to the hegemonic, high value of the dollar that most goods in the US are overpriced and US workers pay more than they should for them
Ah I think I follow. So PPP-adjusted stands for (purchasing-power-parity-adjusted), and it means that it normalizes the cost of a broad basket of goods. So inflation-adjusted in this context means prices normalized across countries, not $$$-inflation over time.
edit: whenever we post these, that’s usually the argument, that things cost more in the global north. But these figures already adjust for that, otherwise the ratio would be probably 1000s of times more.
Makes sense I guess