alt Hacker News> The $1 is measured in international dollars. This means it buys the same amount of goods and services in any country as a US dollar does in the United States. It is often used alongside purchasing power parity (PPP) data. The “time” refers to a day of life for anyone, at any age and in any circumstance — not just the hours worked by someone with a job.
So IIUC this "average poverty" (measured in time per international dollar) includes people living off social welfare? Otherwise, if it only included the working population, wouldn't we have
average poverty ≝ (average yearly income* of the working population / 1yr)⁻¹
*) Adjusted for purchasing power, i.e. measured in international dollars.
Replies
I don't think that's quite right, it would be the average of the inverse hourly wage not the inverse of the average hourly wage.
>>> import statistics
>>> 1/statistics.mean([10,30,100])
0.02142857142857143
>>> statistics.mean([1/10, 1/30, 1/100])
0.04777777777777778No, it's
average poverty ≝ average(1 / annual income)
Inversely proportional to the harmonic mean of average yearly income.
From a linked article:
>For these purposes, income includes earnings from work, government benefits and other sources of money, and it is averaged among all family members.
Yes, it is supposed to include income from all sources.
https://theconversation.com/measuring-poverty-on-a-spectrum-...