Unusual Wikipedia Articles: McDonald's Big Mac Index

Introduction

• Wikipedia Unusual Articles: A collection of articles about unexpected and unbelievable subjects.
• Every week, a new link is explored to learn about the world's wonders.

McDonald's Global Presence

• Spread: Over 36,000 locations in 119 countries.
• Consistency: Core items like Big Macs, chicken nuggets, and fries are available everywhere, despite regional menu differences.

McDonald's Pricing Strategy

• Local Pricing Factors: Includes labor costs, rent, ingredient costs, and local income levels.
• Example: A Big Mac in the US costs $4.79, while equivalent in Kenya would be unaffordable at 480 shillings.

Economics: The Big Mac Index

• Purchasing Power Definition: Amount of goods per currency unit.
• Comparison Examples:
  • US: Big Mac costs $4.79
  • Sweden: Big Mac costs 44 krona ($5.13 equivalent)
  • Purchasing Power: Higher in US than Sweden.

Big Mac Index Insights

• Venezuela: Cheapest Big Mac at 66 US cents due to currency issues.
• Cheapest Big Macs: Venezuela, Russia, Ukraine, South Africa, Malaysia.
• Most Expensive Big Macs: Switzerland, Sweden, Norway, US, Denmark.

Time to Earn a Big Mac

• Nairobi, Kenya: 173 minutes of work.
• Hong Kong: 8.7 minutes of work.
• Miami, US: 10.7 minutes of work (fastest in the US).

Limitations of the Big Mac Index

• Ingredient Costs: Similar across countries.
• Neglected Variables: Differences in labor and land costs.
• Educational Use: Simplifies understanding of basic economics.

Closing Remarks

• Encouragement to subscribe and follow on Twitter for more insights.
• Mention of last week's topic: Timekeeping on Mars.