Archived posting to the Leica Users Group, 2003/03/09

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Subject: Re: [Leica] price gouging/economics etc.
From: Jerry Lehrer <jerryleh@pacbell.net>
Date: Sun, 09 Mar 2003 12:27:42 -0800
References: <LNBBLBNFHNEHGFKFMALGKEHOEKAB.tim@KairosPhoto.com>

Tim

Do you see some slipped or missing decimal points in there?

Jerry

Tim Atherton wrote:

> 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
> > --
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> >
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In reply to: Message from Tim Atherton <tim@KairosPhoto.com> (RE: [Leica] price gouging/economics etc.)