Complementing the averages in U.S. jobs reports, we can see much more variety through the wage rates paid by thousands of McDonald’s around the country..
Looking around the world, you might discover that iPhone X prices aren’t the best indicator of where it is most expensive.
Comparing the purchasing power for a Big Mac and a gallon of gasoline, we can form hypotheses about worker well-being in developed and developing nations.
Comparing median and minimum wage and looking at how the cost of living varies, we can see that the wisdom of a $15 minimum wage hike depends on location.
Our everyday economics includes risk, externalities, purchasing power, complementary goods, capitalism, money supply, human capital, and innovation.
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…
In China, 1/2 liter of beer costs 9 minutes of work. To calculate how many minutes of work it takes to buy beer in 150 countries, Swiss bank UBS researchers divided the median wage in that country by the price of 1/2…