culture

420 posts · page 15 of 28

“The Big Mac Index”

The Big Mac index was invented by The Economist in 1986 as a lighthearted guide to whether currencies are at their “correct” level. It is based on the theory of purchasing-power parity (PPP), the notion that in the long run exchange rates should move towards the rate that would equalise [sic] the prices of an identical basket of goods and services (in this case, a burger) in any two countries.

“The most significant change in Mexico’s economic policy in 100 years.”

[Mexico’s] congress will by the end of this year almost certainly pass a constitutional amendment to open up its oil and natural gas sector to private investment. By this time in 2014 the likes of ExxonMobil, PetroChina and Norway’s Statoil could even have contracts in place to start exploring for Mexico’s untapped oil and gas bounty.