4 years ago1,000+ Views
Anyone who hasn't seen the Economist's Big Mac Index should check this link out. Its a really intuitive and simple way to look at PPP-Purchasing Power Parity (through burgers). So when we see that in Norway a Big Mac costs $7.51 (65% more than in the United States) we see that your dollar goes a lot less far in Norway than pretty much anywhere else! At the same time, a Big Mac is only $1.50 in India (65% less than in the United States), so the dollar can buy much more. This might make it seem like everyone should get out of northern Europe and head for the global south, but there are of course, wage and quality of life differences that you can't ignore!
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Oh jeez Econ class all over again >.< However the Big Mac Index is a really useful tool and also is interesting how the Big Mac became the standard haha.
4 years ago·Reply
@johnlee I wouldn't say maybe... I'd say for sure
4 years ago·Reply
@lovemilkis I think its great because of how easy it is for me to understand!
4 years ago·Reply
love the BMI. Always use it to figure out the PPP of my international friends.
4 years ago·Reply
4 years ago·Reply