Visualizing Price Levels, Standards of Living and Size of Economies in One Chart

The video provides a tutorial to help understand a multidimensional comparison between GDP, GDP per capita, and price levels of world economies based on the 2011 results of the International Comparison Program (ICP). The ICP is a worldwide statistical initiative led by the World Bank under the auspices of the United Nations Statistical Commission, with the main objective of providing comparable price and volume measures of gross domestic product (GDP) and its expenditure aggregates among countries within and across regions. Through a partnership with international, regional, sub-regional and national agencies, the ICP collects and compares price data and GDP expenditures to estimate and publish purchasing power parities (PPPs) of the world’s economies.