durrelllrobert
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How many hours do you need to work to buy one McDonalds Big Mac?
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.
http://l.facebook.com/l.php?u=http%3A%2F%2Fwolfstreet.com%2F2016%2F05%2F31%2Fbig-mac-peso-dollar-minimum-wage-next-tequila-crisis-mexico%2F&h=lAQF
Nngtj
Bob Durrell
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Alm
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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.
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Barry A.
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[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.
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rts551
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Quote: Originally posted by Alm  | 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.
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Alm
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| Quote: Originally posted by Barry A. | [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.
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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]
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Alm
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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.
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rts551
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| Quote: Originally posted by DENNIS | [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.
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Alm
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Seriously? ... Millions of Americans are working for what can be described as
"minimAl" wage. (My caps).
Minimum = the least amount possible.
Minimal = very small or the least amount possible.
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Bajahowodd
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Bear in mind that Puerto Ricans are US citizens.
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