When Wages are determined by Low Local Productivity and Prices by High International Import Prices: A Case of Lebanese Purchasing Power Quandary 

Historical Overview

Lebanon is known among its resident citizens, diaspora, and even tourists who visit the country for its high cost of living. This is not only the case nowadays; it has been so for years and decades. People complain about the high cost of living in Lebanon compared to other countries, from real estate and tuition fees to food and energy prices, which have worsened recently due to the Iran war. So when did Lebanon become so expensive, and what are the underlying reasons behind its high cost of living?

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