Purchasing Power Parity: When in India, Get a Haircut

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How far does your money go in other countries? Before you hop on that next overseas flight, watch this video on the fundamental concept of purchasing power parity.

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Awesome initiative. Being a middle class indian I never tried those roadside barbers, but you actually did. That's a lot of dedication sir. Great video.

souvikdas

Dhanyvaad sir ji..
People like you are blessing to someone like me who can't afford higher education.. Thank you sir, and to your whole team.
Next time when come to India just upload video message sir would love to meet you and thank you personally 🙏

Simplifyingfitness

Explained so beautifully! Thankyou so much for the efforts.

nidhivora

this is really unprecedented way of teaching...u r going well..my gratitude to your videos..

AMITSHARMA-qjzf

I thought an Adidas soccer jersey in Mexico would be more cheaper than U.S, and I was wrong. Now I understand why. Yay economics!

lmqs

Welcome to India.... This will be your most popular video.... Indians love youtube and economics... Make videos on Indian economy your channel will grow very very fast... Just try and see....

Krishnababu

This channel surely deserves more subscribers

redheesh

this is such a well produced video! the presentation reminds me of science for kids tv shows. they make science fun by showing it rather than blandly talking about it. this would be a perfect video for a classroom.

tillycomedy

50 rs for a haircut you could've got it in 20 rs.

vikasagarwal

Great video. There's a flaw in one of the linked practice questions though. One of the questions is as follows:

Q. 3. Consider two families of the same income: one family is in a developing country and the other family is in a developed country. Which family is more likely to have a dishwasher? Remember both families have equal incomes.

OK, it seems to me that the answer is unclear. Both families will purchase both goods and services. If they have equal incomes, the family in the developing country is in some sense richer, since they pay the same for goods but less for services. Doesn't that mean they have more money left over for luxuries like a dishwasher? But on the other hand, labor might be so cheap that they can hire a person to do their dish washing instead of purchasing a machine for it. But it's not obvious at all.

(On a different note: Wait a minute... wouldn't a hired dish washing person be known as a "dishwasher"? If so, the developing country family "has a dishwasher" either way... perhaps "dishwasher" was not a great example to choose for this question...)

stuartberg

Sir! New to ur channel, not an economics student but was thinking of learning economics, stumbled upon ur channel saw a whole playlist on indian economy( needed badly as i myself from New Delhi), really loved the way u explained the topic, even a noobe like me got it! Excellent work!! Just a small request, can u make similar series explaining indian economic history.

abhijeetvasishtha

It was a fun experience & I learnt a lot making this series of videos on Developmental Economics with Alex Tabarrok four years ago in September 2017.

MrAdityaSeth

Economics for middle schoolers? I am in a university class and this is more helpful to me, than text. This needs to be implemented in public education I wish this was studied when I was in public middle school in Missouri.

monkeymogul

Hi I wasn't understanding a bit of economics but your videos and simple explanation is made me understand a lot. Thank you so much. I will continue to watch new videos.

snitin