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The Big Mac index: Our interactive currency comparison tool
91–100 of 192 posts
Re: The Big Mac index: Our interactive currency comparison tool
#92One caveat about this index is that is does not consider the fact that Macdonald's has different types of customers in different countries. In rich countries, it targets lower income strata. In the third world, it targets middle and upper middle class. You can get much cheaper local food (and probably more nutritious food) on the streets. Therefore, Macdonald's is relatively more expensive in poorer countries.
> In rich countries, it targets lower income strata.
[citation needed]; anecdotal, I live in a rich country, a trip to McD's for a family of 3 quickly adds up to €25; home cooked dinner is I will acknowledge that the ability to cook food at home and having access to a supermarket that actually stocks fresh vegetables and the like is a rich country's privilege. That said, I gathered there's plenty of places in the US where that is simply not a thing.
Re: The Big Mac index: Our interactive currency comparison tool
#93Earlier quoted context omitted.
It's worth pointing out that lots of countries don't even have minimum wage laws. It doesn't mean people there make $0 an hour.
I'm not sure what your point is. You've invented a premise I didn't suggest, about the lack of minimum wage laws and $0 / hr. If someone is going to reference the US minimum wage, pretending that it matters for the Big Mac context, then it's quite relevant what percentage of the labor force is actually earning the minimum wage. Today that number is exceptionally low and it's trivial for most people in the bottom labo…
I think the person you are replying to agrees with you.
Re: The Big Mac index: Our interactive currency comparison tool
#94I for one am shocked a Big Mac costs $5.81 in the United States. It's been too long I guess but I remember the meals going for $5-6 when I was a kid. And that's national average too, not an expensive metro area. Surely there were advances in production and logistics that would have lowered the "real" cost of McDonalds delivering a Big Mac, so all else being equal we would expect the price to drop over time. But monet…
In the past few years, McDonald's (and some, but not all, other fast food restaurants) really seems to have gone all-in on the price-discrimination approach of setting list prices high and offering all kinds of discounts if you know where to look. Relevant to the Big Mac Index, at the moment the app offers a two-for-one deal, through February 27, on Big Macs; so the effective price isn't $5.81 but $2.90. If you don't…
In the past few years, McDonald's (and some,
but not all, other fast food restaurants)
really seems to have gone all-in on the
price-discrimination approach of setting
list prices high and offering all kinds of
discounts if you know where to look.
They reallllly don't want you going in there and just buying sandwiches.
Re: The Big Mac index: Our interactive currency comparison tool
#95Thought it was going to be this one, which I enjoy using a lot and find useful for getting the big picture. https://inflationchart.com/cpi-in-bigmac https://inflationchart.com/spx-in-bigmac In the 70s you could work minimum wage for an hour and afford three Big Macs. Now you have to work almost an hour to afford one Big Mac.: https://inflationchart.com/minwage-in-bigmac
US Income vs US Cost of Living tells a different story. The income rose 55% more than the cost of living:
Re: The Big Mac index: Our interactive currency comparison tool
#96I for one am shocked a Big Mac costs $5.81 in the United States. It's been too long I guess but I remember the meals going for $5-6 when I was a kid. And that's national average too, not an expensive metro area. Surely there were advances in production and logistics that would have lowered the "real" cost of McDonalds delivering a Big Mac, so all else being equal we would expect the price to drop over time. But monet…
In the past few years, McDonald's (and some, but not all, other fast food restaurants) really seems to have gone all-in on the price-discrimination approach of setting list prices high and offering all kinds of discounts if you know where to look. Relevant to the Big Mac Index, at the moment the app offers a two-for-one deal, through February 27, on Big Macs; so the effective price isn't $5.81 but $2.90. If you don't…
Is there a website or any other resource that provides a consolidated list of similar discounts? Could do with one for Chick-Fil-A or Bojangles.
Re: The Big Mac index: Our interactive currency comparison tool
#97"This suggests the rouble is 52.1% undervalued."
It could also suggest Russian people don't like Big Macs as much as US Americans do, which I can confirm. A price reflects not only exchange rates but also supply and demand.
Re: The Big Mac index: Our interactive currency comparison tool
#98One caveat about this index is that is does not consider the fact that Macdonald's has different types of customers in different countries. In rich countries, it targets lower income strata. In the third world, it targets middle and upper middle class. You can get much cheaper local food (and probably more nutritious food) on the streets. Therefore, Macdonald's is relatively more expensive in poorer countries.
> In rich countries, it targets lower income strata. [citation needed]; anecdotal, I live in a rich country, a trip to McD's for a family of 3 quickly adds up to €25; home cooked dinner is I will acknowledge that the ability to cook food at home and having access to a supermarket that actually stocks fresh vegetables and the like is a rich country's privilege. That said, I gathered there's plenty of places in the US…
Anecdotally that's the case in Brazil. McD is a lower-middle class and up place. McD in Brazil is actually not that bad in terms of quality. It doesn't have the bad rep it has in the US.
Re: The Big Mac index: Our interactive currency comparison tool
#99Earlier quoted context omitted.
What percentage of the labor force earned the minimum wage in the 1970s versus today? Today it's less than 1%. More realistically the new minimum wage in the US is ~$13-$15 per hour, which you can earn from Walmart, Target, Amazon, Walgreens, CVS, Best Buy and most of the rest. They can't get enough labor and will hire almost anyone that walks in the door. These days you can trivially earn $13-$15 / hour to start, wo…
Did people in the 70s really make $3 an hour?
70s? I started working in the 90s at $4.25 an hour... 1993 I think?
Re: The Big Mac index: Our interactive currency comparison tool
#100Earlier quoted context omitted.
> The US Big Mac [1] has 11% more calories than the Denmark Big Mac [2], which is an 11% difference. Sorry, could we get someone to check those numbers?
Well you need two guys, one from the US, one from Denmark and they booth need a calorie counter machine.
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