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( , Sun 1 Apr 2001, 1:00)
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"The banking giant UBS (Switzerland) has created the Big Mac Index to estimate how long the average person from 70 countries would have to work to earn enough money to buy a Big Mac. The worldwide average is 35 minutes, but in Japan the average time required is just 10 minutes. The index measure purchasing power by eliminating variables such as exchange rates. In Bogota, Columbia, workers must work an average of 97 minutes in order to buy a Big Mac, illustrating that the purchase power in Central and South America is a third of that of a typical North American city."
I'll try to refrain from spamming this stuff too much as I'm sure it'll get boring pretty fast.
( , Wed 24 Sep 2008, 19:47, Reply)
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