this post was submitted on 06 Sep 2023
21 points (66.7% liked)
Europe
8484 readers
3 users here now
News/Interesting Stories/Beautiful Pictures from Europe 🇪🇺
(Current banner: Thunder mountain, Germany, 🇩🇪 ) Feel free to post submissions for banner pictures
Rules
(This list is obviously incomplete, but it will get expanded when necessary)
- Be nice to each other (e.g. No direct insults against each other);
- No racism, antisemitism, dehumanisation of minorities or glorification of National Socialism allowed;
- No posts linking to mis-information funded by foreign states or billionaires.
Also check out !yurop@lemm.ee
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Relative difference between two values depends on the perspective. These numbers mean that the purchasing power in the USA is 35% higher when compared to the EU. Conversely, it means that the purchasing power in the EU is 26% lower when compared to the USA.
Math is fun. As a rule of thumb: If you have one third more than someone else, he has one quarter less than you. Perspective is often used in journalism to scew statistics without lying, so it's nice to be aware.
The same is true for the "80% gap" posted in the headline of the original article. Without direction, a relative difference is incomplete.