Archived posting to the Leica Users Group, 2003/03/09
[Author Prev] [Author Next] [Thread Prev] [Thread Next] [Author Index] [Topic Index] [Home] [Search]Simon, Yes, The Economist publishes the Big Mac index periodically (I think once a quarter). For the uninitiated, the Big Mac index is their somewhat tongue-in-cheek application of the Purchasing Power Parity theory, which states that a "correct" exchange rate between two currencies is one at which the price of a basket of goods is the same in the two countries involved. The Economist has been using the Big Mac instead of a basket, since this is a product which you can obtain almost anywhere and which is totally standardized. It shows a surprisingly high correlation with the more sophisticated PPP calculations. Nathan animal wrote: > yes really like the carefulness of your discussion. > Agree that a fair price does not exist in a true market economy. > Easy to confuse value with price and price divided by value is even > trickier. > Internationally it is even harder to do.Does anyone know if the Big Mac > standard is still used to compare countries? > simon - -- Nathan Wajsman Herrliberg (ZH), Switzerland e-mail: nathanw@bluewin.ch mobile: +41 78 732 1430 Photo-A-Week: http://www.wajsman.com/indexpaw2003.htm General photo site: http://www.wajsman.com/index.htm - -- To unsubscribe, see http://mejac.palo-alto.ca.us/leica-users/unsub.html