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(Gallup)   Gallup report says the worldwide median income is $10,000 a year. Wal-Mart immediately sends copies to their employees showing them they aren't doing so badly after all   (gallup.com) divider line 11
    More: Fail, per capita incomes, Gallup, median household income, national income, local currency, wages and salaries, household incomes  
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597 clicks; posted to Business » on 18 Dec 2013 at 8:52 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



11 Comments   (+0 »)
   
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2013-12-18 09:42:13 AM  
Walmart - We exploit cheap, communist, chinese labor so you don't have to!!
 
2013-12-18 09:55:41 AM  

Linux_Yes: communist, chinese


Yeah, someone hasn't been keeping up with their current events. And anyone who advocates Linux to a great extent should have no problem with Communism.

/uses Linux sometimes
 
2013-12-18 11:17:41 AM  
I read an interesting theory / prediction recently, which supposed that, in time, development of the underdeveloped nations will cause standards of living, wages, and costs to rise globally to the point where there are no easy "3rd world" countries to export manufacturing to.  Or, at least, the savings for doing so will be severely curtailed.  Obviously, this will take quite a while.

They went on to suppose that a new underclass would be required.  Non-persons in smaller groups (a ghetto, or a town as opposed to an entire Chinese province or African nation, for example) would be needed to produce goods or services cheaply, since proper citizens would be too expensive to exploit.  Their prediction was that crime would be used as an excuse to manufacture these ghettos.  Areas that progressively get so dangerous that police simply no longer go, but instead control movement in and out, supporting a place for undocumented, exploitable non-persons to breed and work.
 
2013-12-18 11:36:48 AM  
The use of "median" in TFA is loose to begin with, the farkline makes it worse...

Actual potential meaning: Of the 131 countries they surveyed, roughly half have a median household income > $9,700 and half less (this is what "median" is supposed to mean). Looking at the table, the median appears to be much closer to $7,000 (it's an image, I ain't typing it back in). So perhaps they write "median" when they mean "mean".

Note also that this is average of countries - India with 1,200 million souls would seem to be weighted the same as Norway with 5 million.

By population, you can easily get to WELL over half the world's population by choosing from the 15 most populous countries the ones which have a median income no greater than China's ($6,180).

Complete and utter rubbish.
 
2013-12-18 01:29:19 PM  
Sweet cant wait to see my next check now.
 
2013-12-18 01:44:27 PM  
9000 a year isn't so bad when your rent is 80 bucks a month and food is dirt cheap...
 
2013-12-18 02:28:46 PM  

dividius: The use of "median" in TFA is loose to begin with, the farkline makes it worse...

Actual potential meaning: Of the 131 countries they surveyed, roughly half have a median household income > $9,700 and half less (this is what "median" is supposed to mean). Looking at the table, the median appears to be much closer to $7,000 (it's an image, I ain't typing it back in). So perhaps they write "median" when they mean "mean".

Note also that this is average of countries - India with 1,200 million souls would seem to be weighted the same as Norway with 5 million.

By population, you can easily get to WELL over half the world's population by choosing from the 15 most populous countries the ones which have a median income no greater than China's ($6,180).

Complete and utter rubbish.


Agreed.  In looking around world mean income (2007) was around $7000.  That supports your observation they are getting things mixed up.  Depending where I looked, I got a median income of $1700 (2005) for one list of countries and $850 (no year, all countries).  Lots of places had figures tracked by country - apparently nationalistic epeen waving is an "in" thing.  I'm not providing sources because, honestly, they sucked, and didn't correctly attribute their information either, so no clickies for them.  If someone has a good source with useful information I'm interested.
 
2013-12-18 04:12:46 PM  

tbhouston: 9000 a year isn't so bad when your rent is 80 bucks a month and food is dirt cheap...


Welcome to Haiti!
 
2013-12-18 05:55:15 PM  

TheOtherGuy: I read an interesting theory / prediction recently, which supposed that, in time, development of the underdeveloped nations will cause standards of living, wages, and costs to rise globally to the point where there are no easy "3rd world" countries to export manufacturing to.  Or, at least, the savings for doing so will be severely curtailed.  Obviously, this will take quite a while.

They went on to suppose that a new underclass would be required.  Non-persons in smaller groups (a ghetto, or a town as opposed to an entire Chinese province or African nation, for example) would be needed to produce goods or services cheaply, since proper citizens would be too expensive to exploit.  Their prediction was that crime would be used as an excuse to manufacture these ghettos.  Areas that progressively get so dangerous that police simply no longer go, but instead control movement in and out, supporting a place for undocumented, exploitable non-persons to breed and work.


I think I saw that movie.
 
2013-12-18 06:13:51 PM  

TheOtherGuy: I read an interesting theory / prediction recently, which supposed that, in time, development of the underdeveloped nations will cause standards of living, wages, and costs to rise globally to the point where there are no easy "3rd world" countries to export manufacturing to.  Or, at least, the savings for doing so will be severely curtailed.  Obviously, this will take quite a while.

They went on to suppose that a new underclass would be required.  Non-persons in smaller groups (a ghetto, or a town as opposed to an entire Chinese province or African nation, for example) would be needed to produce goods or services cheaply, since proper citizens would be too expensive to exploit.  Their prediction was that crime would be used as an excuse to manufacture these ghettos.  Areas that progressively get so dangerous that police simply no longer go, but instead control movement in and out, supporting a place for undocumented, exploitable non-persons to breed and work.


A return to prison labor is more likely.
(and already happening)
 
2013-12-19 07:22:41 AM  

tbhouston: 9000 a year isn't so bad when your rent is 80 bucks a month and food is dirt cheap...


That's the problem with these types of studies. A better criteria would be to calculate how many man-hours, for the average worker, does it take to buy a basket of products/services.
 
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