4 years ago
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The Big Mac Index
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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