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Saved by @sunilgollapalli

Everyone loves a good burger.

But what if we told you that the same burger moonlights as an economic tool?

A thread...

 Well, back in 1986, The Economist introduced the “Big Mac Index” to evaluate the value of currencies across countries via McDonald’s ubiquitous Big Mac burger & this concept came to be known as Burgernomics.

So how does it work?
Suppose a Big Mac costs $5 in the US and 20 Yuan in China. The Big Mac exchange rate would then be 5:20 or 1:4.

However, if the actual exchange ratio was 1:5, investors might predict that the Yuan is cheaper/undervalued by 20%.
Hence, the burger based index is premised on the idea that burger prices around the world can help you judge whether a currency is too cheap or too dear.

Why just the Big Mac though?
Well, for starters, McDonald’s has a phenomenally wide reach in the world, and the survey itself includes ~120 countries

Moreover, the Big Mac is mostly produced to the same specifications around the world & hence, the costs of producing the burger should be relatively standard.
However, in India, McDonalds doesn’t sell the Big Mac due to local sensitivities towards beef.

So the Economist takes into account the Maharaja Mac (which has chicken) as India’s entry to the Big Mac Index.
While The Economist itself states that the Big Mac index “should be taken with a grain of salt”, many economists say that it's roughly accurate, since the pricing of a Big Mac takes into account local costs of raw materials, taxes, etc.
And unorthodox, as it may be, it has now become a popular way of comparing currencies against each other & is widely used by traders in the forex market.

What are your thoughts on this?

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Scientists of the modern world credit an English scientist John Dalton (1766 CE -1844 CE) for the Atomic Theory.


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Vibhu Vashisth 🇮🇳...
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Chhatrasal Bundela was born in year 1649 CE in Maur Hill of Bundela region to Champat Rai and Lal Kunwar. He was the descendent of Rudra Pratap of Orchha.


His ancesters were the vassals of Mughal Emperor. He drew inspiration from his father and revolted against the alien rule of Mughals. He was just 12 yrs old when his parents died in fight against the Mughal Army of Aurangzeb in 1661.

When his beloved father attained martyrdom in the year 166, the young Chatrasal was present in the last battle of his father against the Mughal and from these valiant campaigns,..

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அஸ்தினாபுரத்து அரசி👸...
@SivaRoobini555
#தினம்_ஒரு_திருவாசகம்
தொல்லை இரும்பிறவிச் சூழும் தளை நீக்கி
அல்லல் அறுத்து ஆனந்தம் ஆக்கியதே – எல்லை
மருவா நெறியளிக்கும் வாதவூர் எங்கோன்
திருவாசகம் என்னும் தேன்

பொருள்:
1.எப்போது ஆரம்பித்தது என அறியப்படமுடியாத தொலை காலமாக (தொல்லை)

2. இருந்து வரும் (இரும்)


3.பிறவிப் பயணத்திலே ஆழ்த்துகின்ற (பிறவி சூழும்)

4.அறியாமையாகிய இடரை (தளை)

5.அகற்றி (நீக்கி),

6.அதன் விளைவால் சுகதுக்கமெனும் துயரங்கள் விலக (அல்லல் அறுத்து),

7.முழுநிறைவாய்த் தன்னுளே இறைவனை உணர்த்துவதே (ஆனந்த மாக்கியதே),

8.பிறந்து இறக்கும் காலவெளிகளில் (எல்லை)

9.பிணைக்காமல் (மருவா)

10.காக்கும் மெய்யறிவினைத் தருகின்ற (நெறியளிக்கும்),

11.என் தலைவனான மாணிக்க வாசகரின் (வாதவூரெங்கோன்)

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முதல்வரி: பிறவி என்பது முன்வினை விதையால் முளைப்பதோர் பெருமரம். அந்த ‘முன்வினை’ எங்கு ஆரம்பித்தது எனச் சொல்ல இயலாது. ஆனால் ‘அறியாமை’ ஒன்றே ஆசைக்கும்,, அச்சத்துக்கும் காரணம் என்பதால், அவையே வினைகளை விளைவிப்பன என்பதால், தொடர்ந்து வரும் பிறவிகளுக்கு, ‘அறியாமையே’ காரணம்

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Don't have time to read it?
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