Economist came up with this funda long time back...20 years to the date. the big mac index. damn intelligent, they compared the price of a McBurger in different countires, at that point it was selling in 120 countries, and using that comparison, found out where it was cheaper. kind of Purchaing Power Parity (PPP) which is the economists way of comparing the purchasing power of people in different countries. but the big mac index works better as it takes the input costs, and all other factors (transportation etc) into consideration.
anyways, with the 9th standard economics course that i have done. here is an extension to this theory....
what if we measure how much a person working in a Mcdonalds makes, and also measure the price of a Mcburger. Dividing the first by the second will give us the number of burgers a person can buy per month.
Also we find out how many Mcburgers a person needs to survive. So we find out how many calories a person needs daily, monthly, and how many a single Mcburger provides and using that find out how many Mcburgers a person needs to survive.
Now we have two figures, and equating them, we can find out whether a person is making enough to survive or not. and what else do we need to know??!?
thing about it, what else do you need. if you make enough to survive, then what else do you need. if the ratio after equating becomes more then 1, then u give away the extra to people whoes ratio is less then 1. communist way...!
just a theory...
take care.
