Channel: Captain Gizmo

Category: People & Blogs

Tags: mostmcdonaldamazing databig macdata visualizationdata is beautifulbigmacexpensive

Description: In this data visualization I look at the countries with the most expensive Big Macs. This data comes from the Big Mac Index, recorded multiple times a year since 1986. The Big Mac Index was created by The Economist in 1986 as a way to measure the purchasing power parity (PPP) between different currencies. The index is based on the theory of PPP, which states that in a free market, the exchange rate between two currencies should equal the ratio of the prices of a basket of goods in each country. The Big Mac Index uses the price of a Big Mac as its basket of goods, and compares the price of a Big Mac in different countries to see if their currencies are under- or over-valued. The Big Mac Index has been criticized for its simplistic approach, and for not taking into account other factors such as inflation. However, it remains a popular way to measure PPP, and has been used by the IMF, World Bank, and other organizations. economist.com/big-mac-index Thank you for watching! Music: Epic Motivation by Roman Cano from melodyloops.com