Thanks. Today I just thought of examining if I could still write, haha. 



> “It costs x times more to live like an American” than “Americans are x times wealthier”, where x is the ratio of GDPs.

Nice. That's the way it is but 99% don't get it. 








Coinsreporter

econ

India's Low GDP per Capita, fake or real?

Very interesting write up. It really highlights three of the big known problems with GDP:
1. Home production is not counted. 
2. The informal sector is not counted. 
3. Leisure time is not counted. 

You didn’t specifically mention the last one, but I think it’s consistent with the idea that Indians get a lot of value from spending time with their families. 

It’s important to note as well that GDP isn’t exactly a measure of wealth. It might be more accurate to say something like “It costs x times more to live like an American” than “Americans are x times wealthier”, where x is the ratio of GDPs. 