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[–]Nombre27 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

If a $1 salary can buy everything, why are there still extremely poor people living in third world countries?

It's called purchasing power parity (PPP). $1 has different values in different places and at different times. You're assuming that $1 can only purchase what is worth $1 presently and that the cost of goods in this future hypothetical won't be fractions of a dollar. Like u/Dragonerne said, it's relative.