Sunday, September 30, 2007  Africa Leads the World in the
Creation of Red Tape        At 9/30/2007 12:52 PM,
Blogger happyjuggler0 said...  Why is the chart not in PPP?
Using highly variable exchange rates to compare something like
per capita GDP is shoddy economics.  PPP may not be perfect, but
it is much closer to "the truth" than exchange rates. The US
dollar doubled against the British Pound from mid 1980 to early
1985. Did domesticly denominated, inflation adjusted per capita
GDP comparably outperform the UK during this time period? No, of
course not. But if you used exchange rates to compare GDP with
then you would get that very wrong impression. So why do it
today instead, where it is equally misleading?  That said, your
chart does nothing to detract from the correct thesis you have
outlined in your post. But I can easily see how an uninitiated
reader might wrongly think that Denmark has a higher standard of
living than the US does for example, leading them to other wrong
policy conclusions.  At 9/30/2