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Burgernomics

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For more than 20 years, The Economist has practiced “Burgernomics” to compare the value of exchange rates around the world. The technical theory is a little (a lot) too much for an F&W blog, but in very loose terms the “Big Mac index,” as the financial magazine has cleverly labeled it, compares the cost of the iconic burger around the world in terms of the dollar. This year’s results came out in last week’s Economist. The cheapest place to buy a Big Mac in dollars right now? China, where it costs the equivalent of $1.83 (in Thailand, it’s $1.89). The priciest Big Mac is in Norway, where it’s $6.15, followed by Switzerland, where it’s $5.98. And for anyone who thinks Britain is wildly expensive, there’s good news: A Big Mac there is the equivalent of $3.69, just slightly more than the average cost of one here in the USA, where it’s $3.57.

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