Archived posting to the Leica Users Group, 2003/03/09
[Author Prev] [Author Next] [Thread Prev] [Thread Next] [Author Index] [Topic Index] [Home] [Search]thanks simon - ----- Original Message ----- From: "Nathan Wajsman (private)" <nathanw@bluewin.ch> To: <leica-users@mejac.palo-alto.ca.us> Sent: Sunday, March 09, 2003 7:19 PM Subject: Re: [Leica] price gouging/economics etc. > Simon, > > Yes, The Economist publishes the Big Mac index periodically (I think > once a quarter). For the uninitiated, the Big Mac index is their > somewhat tongue-in-cheek application of the Purchasing Power Parity > theory, which states that a "correct" exchange rate between two > currencies is one at which the price of a basket of goods is the same in > the two countries involved. The Economist has been using the Big Mac > instead of a basket, since this is a product which you can obtain almost > anywhere and which is totally standardized. It shows a surprisingly high > correlation with the more sophisticated PPP calculations. > > Nathan > > animal wrote: > > yes really like the carefulness of your discussion. > > Agree that a fair price does not exist in a true market economy. > > Easy to confuse value with price and price divided by value is even > > trickier. > > Internationally it is even harder to do.Does anyone know if the Big Mac > > standard is still used to compare countries? > > simon > > > -- > Nathan Wajsman > Herrliberg (ZH), Switzerland > > e-mail: nathanw@bluewin.ch > mobile: +41 78 732 1430 > > Photo-A-Week: http://www.wajsman.com/indexpaw2003.htm > General photo site: http://www.wajsman.com/index.htm > > -- > To unsubscribe, see http://mejac.palo-alto.ca.us/leica-users/unsub.html - -- To unsubscribe, see http://mejac.palo-alto.ca.us/leica-users/unsub.html