Tuesday, July 06, 2004

In 1973, the average US citizen needed 17.5 weeks of annual family earnings to buy an average-priced car, a figure that rose to 24.0 weeks by 1994. By 2003, the figure had declined to 20.7 weeks.
20.7 weeks is about 4-5 months of salary. U.S. per capita Purchasing Power Parity= $37,800.
Indian per capita purchasing power parity $2,900.

U.S. price= $15000= 6 months of income based on PPP
Indian Price= $15,000= 6 years of income based on PPP

Where are we heading with this economic system?


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