THE Lowly Peon

an alternative to the big mac index

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26 August 2009, 7:51pm

many of you are likely already familiar with the big mac index. the idea is that currencies' values may change, cities' economies may change, etc. so rather than comparing currency or gdp or debt, compare the price of something that is somewhat universal (within china, I find myself comparing the price of a single brand's bottle of water: in Hangzhou, it's ¥2.50, but in Beijing, maybe it's ¥5, and in the coutry side, it may be ¥1). the big mac index compares the price of a big mac in different cities.

this graphic by the economist compares the value of a big mac notin terms of dollars, but by how much time it would take the average person to earn enough to buy a big mac.

Chicago, possibly the greatest city in the world, requires the average person to work a mere 12 minutes to earn enough for a big mac.