I think that a PPP adjustment is required here to produce a reasonable analysis
This article is in response to the recent Oxfam report which talked about the wealth of the global 1%. So in that context the absolute wealth, in the way that Oxfam measured it, is relevant.
Re:Where do the wealthiest 1% live?
by semperfaux on Sunday January 25, 2015 @07:34PM
(#8944914)
Then perhaps a better response to the Oxfam report would be to at least attempt a more realistic measurement of wealth and present something similar with that addition/adjustment.
I'm not sure I understand why adjusting for primary residence ownership would make it "a more realistic measurement of wealth".
> 'The 1%' is not simply a matter of wealth; a person with $500K in the UK and in Nigeria are not really equivalent. The former is just a person who owns a normal home in the South East outright, the latter may well be in a position of power.
Isn't this just trying to correct for people using their wealth inefficiently?
For the 0.1% or higher (whose wealth is sufficient for them to take advantage of globetrotting) absolute numbers might be important.
'The 1%' is not simply a matter of wealth; a person with $500K in the UK and in Nigeria are not really equivalent. The former is just a person who owns a normal home in the South East outright, the latter may well be in a position of power.