Relationship With Purchasing Power
Since real GDP is adjusted for inflation throughout the year, it can be thought of in terms of purchasing power. As a result, individual purchasing power can be measured by real GDP per capita, i.e., real GDP divided by the size of the population..
Read more about this topic: Real Gross Domestic Product
Famous quotes containing the words purchasing power, relationship with, relationship, purchasing and/or power:
“Purchasing power is a license to purchase power.”
—Raoul Vaneigem (b. 1934)
“We think of religion as the symbolic expression of our highest moral ideals; we think of magic as a crude aggregate of superstitions. Religious belief seems to become mere superstitious credulity if we admit any relationship with magic. On the other hand our anthropological and ethnographical material makes it extremely difficult to separate the two fields.”
—Ernst Cassirer (1874–1945)
“We must introduce a new balance in the relationship between the individual and the government—a balance that favors greater individual freedom and self-reliance.”
—Gerald R. Ford (b. 1913)
“Fashion is the most intense expression of the phenomenon of neomania, which has grown ever since the birth of capitalism. Neomania assumes that purchasing the new is the same as acquiring value.... If the purchase of a new garment coincides with the wearing out of an old one, then obviously there is no fashion. If a garment is worn beyond the moment of its natural replacement, there is pauperization. Fashion flourishes on surplus, when someone buys more than he or she needs.”
—Stephen Bayley (b. 1951)
“Power and violence are opposites; where the one rules absolutely, the other is absent. Violence appears where power is in jeopardy, but left to its own course it ends in power’s disappearance.”
—Hannah Arendt (1906–1975)