According to the study, the five countries in Latin America with the highest minimum-wage purchasing power are, in ascending order, El Salvador, where
a minimum-wage worker has to work 1.51 hours to buy a Big Mac; Chile (1.47 hours); Costa Rica (1.33 hours); Puerto Rico (1.03 horas) and y Argentina
(1 hour).
In Mexico, by contrast, a minimum-wage worker has to clock in 5.6 hours to be able to get his or her lips around a Big Mac — over triple the number of
hours a Salvadorian must work to receive the same “reward.” In other words, Latin America’s second biggest economy appears to have a significantly
lower minimum-wage purchasing power than its tiny neighbor to the south.
Salvador and Puerto Rico living 4-5 times better than Mexico - this is interesting.
It could be that Mexican data are more objectively measured. Or - much wider spread btw minimal and average wage than in other countries, i.e. nobody
really works for minimal wage.Barry A. - 8-31-2016 at 12:19 PM
[rquote=1046494&tid=83897&author
----------nobody really works for minimal wage.[/rquote]
Why not??? I, and many I know sure did from the time I was 12 until 17, and really appreciated being able to, and it was fun earning money. rts551 - 8-31-2016 at 12:34 PM
Salvador and Puerto Rico living 4-5 times better than Mexico - this is interesting.
It could be that Mexican data are more objectively measured. Or - much wider spread btw minimal and average wage than in other countries, i.e. nobody
really works for minimal wage.
The wages in many stores are minimum wage. also some farm workers are paid minimum wage .I don't know what minimal wage is.Alm - 8-31-2016 at 01:10 PM
----------nobody really works for minimal wage.[/rquote]
Why not??? I, and many I know sure did from the time I was 12 until 17, and really appreciated being able to, and it was fun earning money.
If it's mostly children working for that little money, then it's different. Not sure they are spending it in McDonalds - I probably wouldn't.
Another question is whether Big Mac price is representative of anything, in Mexico. Prices of fast-food joints of all kinds there surprise me - one
third to half of the US price. And, by the number of it - almost looks as if they had less cooking skills yet than an average guy NOB
[Edited on 8-31-2016 by Alm]Alm - 8-31-2016 at 01:29 PM
Have just read the original article. Confirms what I thought - Big Mac "index" is not something to take seriously. According to the article - it was
invented by The Economist in 1986 as a lighthearted guide to whether currencies are at their “correct” level. GDP per person divided by Big Mac price
(if it really has to be this item) - would be a better measure.
I agree with the article that peso is already undervalued and sinking too fast.rts551 - 8-31-2016 at 01:59 PM
[rquote]=1046500&tid=83897&author=rts551
The wages in many stores are minimum wage. also some farm workers are paid minimum wage .I don't know what minimal wage is.[/rquote]
-------------------------------
You don't? Perhaps ask your mentor, TalkBaja Ron Hoff, who supports the San Quintin growers who pay their field hands only enough to eat the dirt
they work in. [save the denials and insistence on references. They're meaningless]
[Edited on 8-31-2016 by DENNIS]
You jumped so fast you missed the whole meaning of what I sai. There is no such thing as a minimul wage...only a minimum wage. Have another drink
Dennis. You are getting the shakes.Alm - 8-31-2016 at 05:55 PM
