>>212646337>Purchasing Power Parity is an absolute meme.No, it is not. The only people who say this are people who never lived in different places and just judge purchasing parity based on prices in McDonalds or something.
Friend of mine had to replace the windshield of his car for example and the service in Netherlands asked for almost 3000 Euro more so he drove back and replaced it here. Both are properly certificated who install the same glass.
Or look at square meter prices. Here even in Budapest the square meter prices for new apartments starts from around 2200 EUR (absolute cheapest) but for like 3700 EUR you can find plenty. In Berlin a new construction generally starts from 6000+ EUR.
PPP is not perfect of course, it cannot adjust for difference in quality, etc. but pretending it is useless is wrong when Western countries generally have much higher costs.