291–300 of 544 posts
Earlier quoted context omitted.
> Why does the US need to stick to a 2% inflation rate? Because high inflation means the money in your bank account becomes worthless at an exponential pace.
Which encourages investment and spending, stimulating the economy, rather than letting money sit idle.
One of the best things about living in India is watching families move from lower or lower-middle class to middle-class status. Usually, all it takes is someone from the family landing a white-collar job. While the tech bodyshops (TCS, Infosys, etc.) might have a poor reputation in the US, these companies have been absolutely critical in helping move tens of millions into middle-class respectability.
>While the tech bodyshops (TCS, Infosys, etc.) might have a poor reputation in the US, these companies have been absolutely critical in helping move tens of millions into middle-class respectability. At the cost of Americans dealing with poorer tech support, buggier software (sometimes critical software that leads to million dollar losses), and employment fraud (like lip syncing in interviews where someone else answe…
One of the best things about living in India is watching families move from lower or lower-middle class to middle-class status. Usually, all it takes is someone from the family landing a white-collar job. While the tech bodyshops (TCS, Infosys, etc.) might have a poor reputation in the US, these companies have been absolutely critical in helping move tens of millions into middle-class respectability.
>While the tech bodyshops (TCS, Infosys, etc.) might have a poor reputation in the US, these companies have been absolutely critical in helping move tens of millions into middle-class respectability. At the cost of Americans dealing with poorer tech support, buggier software (sometimes critical software that leads to million dollar losses), and employment fraud (like lip syncing in interviews where someone else answe…
Earlier quoted context omitted.
Discussions about poverty is usually confused by the two competing definitions: - Absolute Poverty: If you have less than $X/day, you are poor. This measures living standards. - Relative Poverty: If you're in the bottom x%, you are poor. This measures status. Without knowing anything, it sounds like this measurement is more on the Relative Poverty side.
I don't understand how relative poverty can improve.
Of course, the bottom x% is what it is - but if you create margins or classes then it works different - ie, the % of people who are making x% less than the median or average or whatever.
Earlier quoted context omitted.
its amazing. and unfortunately they will be the last generation that will be able to do it. just like for western countries everything will become unaffordable and the middle class wont be able to buy houses
I'm not sure of your point, but I think I disagree. The previous comment was about going from poverty to middle class. Why won't this be possible in the future?
I think that is the point they were making.
Earlier quoted context omitted.
Which encourages investment and spending, stimulating the economy, rather than letting money sit idle.
not everyone wants to actively invest their money, "spend/invest your money or lose it" is a pretty shitty attitude
I don't understand poverty statistics. With this news, the UK now has more people living in poverty than India (16% vs 22%?). If it is valuable to judge poverty on relative income, you would think the rational course of action would be mass immigration from the UK to India but that is clearly not the case.
Discussions about poverty is usually confused by the two competing definitions: - Absolute Poverty: If you have less than $X/day, you are poor. This measures living standards. - Relative Poverty: If you're in the bottom x%, you are poor. This measures status. Without knowing anything, it sounds like this measurement is more on the Relative Poverty side.
So they lifted almost twice my home country's population out of poverty in 15 years? That's impressive. Also, how did India got to have so many people?
Extremely high fertility rates.