Post Number: 1
|Posted on Friday, June 21, 2002 - 8:05 am: |
In the Economist magazine there is a very popular section called the McDonalds hamburger index. This prices the hamburger at McDonalds across many countries and translates the price by exchange rate to identify those countries are over and under priced. The beauty of it is that the McDonald hamburger is a standard comparison base. This is used to determine which countries are over/under priced.
I would suggest that a similar 'short time' index is established so all can see the over/under pricing of that standard commodity across many countries. Who knows, maybe global economists will view that comparison a better reflection of prosperity across nations!