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Is Singapore 105% Richer Than the UK and 52% Richer Than the US? (Price Indices #1)

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Published on Jan 17, 2017

This video explains what PPP GDP per capita is, and why Singapore's is greatly exaggerated. (TL;DW The IMF/World Bank mistakenly assume that the US is over 60% more expensive than Singapore. And so Singapore's PPP GDP per capita is commensurately exaggerated. Under the conservative assumption that price levels in the US and Singapore are the same, Singapore PPP GDP per capita is slightly lower than the US. And under the more plausible assumption that the US is 20% cheaper than Singapore, it would be just a whiff below the UK.)

March 2017 update: The EIU published its March 2017 Worldwide Cost of Living report. Singapore was again the world champion, for the 4th consecutive year. For more details, see spreadsheet containing figures and calculations: https://drive.google.com/open?id=1IUA...

This is Part #1 in a series on Price Indices. Parts #2: https://goo.gl/UZic0Q, #3: https://goo.gl/6PvIJI, #4: https://goo.gl/E6whSN.

Transcript (with notes and sources): https://drive.google.com/open?id=0B6d...

My website: http://econcow.com/

Music: "A Day Off", "Cartoon", "Drive", "Pacific Sun", and "Summertime (REDUX)" by Nicolai Heidlas. "1950s Rock n' Roll Piano Riff" by rasputin1963.

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