How big really is your paycheck? You can calculate it in terms of dollars, or preferably in terms of what you can actually purchase, in other words purchasing power parity. A couple of weeks ago I posted about a similar subject “Burgernomics” where different Big Mac prices in different countries value the home currency relative to the dollar. Here, a report done by UBS published in The Economist studies the number of hours an employee has to work to earn the price of a Big Mac.
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Loading ...Tags: Big Mac, Big Mac Index, Purchase Power, Purchasing Power Parity
Big Macs are evidently a gourmet in Nairobi!
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Saud Reply:
October 16th, 2009 at 6:17 pm
working in New York you can afford to eat 36 Big Macs a day ;p
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Keynesian Reply:
October 16th, 2009 at 10:43 pm
I would, but then I wouldn’t be able to pay my rent!
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How come in Doha, of all places, you have to work for about a half hour or more to buy a Big Mac? Somesin’ fishy here.
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Keynesian Reply:
October 16th, 2009 at 10:44 pm
I guess the survey takes the average of various professions and maybe in Doha its eskewed towards lower wage jobs.
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I like the Big Mac!
Probably I’m going to move to Chicago!
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