Measuring Wealth, One Big Mac at a Time

Monday, May 07, 2012

McDonald's Japan company “BigMac' hamburger McDonald's Japan company “BigMac" hamburger (Wikimedia Commons)

How do you compare the wealth of nations? An economics professor at Princeton University thinks such a big question has a bite-sized answer: buy a Big Mac. Orley Ashenfelter is the author of the Big Mac Index, which measures a country's wealth based on a McDonalds worker's average wage and the cost of a Big Mac. This simple product, which is the same everywhere, can tell a lot of different stories about a country's economic state.

Guests:

Orley Ashenfelter

Produced by:

Joe Hernandez and Joe Rosenberg

Comments [1]

Jay from NYC

As difficult as it may be to believe to those of us who grew up on it and now frequently find their fare unpalatable (though oddly compelling from time to time), I suspect McDonald's occupies somewhat of a "haute cuisine" place in other markets. So the comparison should be with expensive restaurants.

May. 07 2012 08:35 AM

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