Big Mac Index: Lucky we don't live in Nairobi?
The Economist has published an "alternative" to its Big Mac Index, a semi-annual attempt to place obscure economic concepts into more palatable terms for boneheads like us. (A recent GOOD Magazine blog does a better job of explaining it.)
The alternative, based on the findings of financial firm UBS, is a quicker read: It charts how many minutes an average worker in a number of different countries has to work to earn enough money to buy a Big Mac. And it iddn't pretty. The global average is nearly 40 minutes. It's 12 minutes in Chicago. Close to two hours in Nairobi.
We don't know which is worse: the image of people actually motivated by Big Macs or the likelihood that the sandwiches are really freaking expensive in certain parts of the world.