Archived posting to the Leica Users Group, 2003/03/09
[Author Prev] [Author Next] [Thread Prev] [Thread Next] [Author Index] [Topic Index] [Home] [Search]http://www.oanda.com/products/bigmac/bigmac.shtml > -----Original Message----- > From: owner-leica-users@mejac.palo-alto.ca.us > [mailto:owner-leica-users@mejac.palo-alto.ca.us]On Behalf Of animal > Sent: Sunday, March 09, 2003 11:45 AM > To: leica-users@mejac.palo-alto.ca.us > Subject: Re: [Leica] price gouging/economics etc. > > > 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 > - -- To unsubscribe, see http://mejac.palo-alto.ca.us/leica-users/unsub.html