Seems to me if you can buy with 45 minutes labor what it takes a brit to buy with one hours labor then you are better off.
Don't see what income equality has to do with it.
And really don't see where the working stiff has a legitimate claim on the earnings of the wealthy elite, no more than i have a claim on your salary.
That's the issue though BT, can you buy with 45 minutes labor what it takes a Brit an hour of labor to purchase? PPP doesn't tell you that. If it did, then that same item could be purchased by an Equatorial Guinean with just 30 minutes of labor.
By the way, there are different approaches to measuring PPP relative to the goods in that country. You can measure it with an identical good in all countries, or a similar local good relative to each country.
The problem, BT, is that a few mega-wealthy can make the per capita based measure present a faulty picture as to who can really purchase what. That is, of course, what we see in Equatorial Guinea...whose purchasing power is higher than the US or the UK. By your standards of supporting the elite, they are simply more productive than Americans or Brits. A simple check at productivity schedules indicates that is not true.
And really don't see where the working stiff has a legitimate claim on the earnings of the wealthy elite, no more than i have a claim on your salary.
That is a different issue altogether, but if you'd rather argue that I have no problem doing so.