The Amount of Work it Takes to Buy a Big Mac

Comparing the purchasing power of nominal and real wage rates among countries and for different years in one nation, we learn about standards of living.

Purchasing Power

The Big Mac Index is out again and not much has changed. Norway’s Big Macs are expensive and Chinese Big Macs are cheap. What do Big Mac prices tell us about purchasing power? Starting with an average U.S. price of $4.37, we…

(Mc)Wages Around the World

It can be tough to compare wages around the world. While lots of people could be called iPhone assemblers or auto workers or t-shirt makers, depending on the country, factory conditions, time off, the work day, all really differ. Not…