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The big mac index was created to compare relative currency strengths, but if you can use it to get a view into the price of big macs internationally. A big mac
by dv_dt 6y ago
The big mac index was created to compare relative currency strengths, but if you can use it to get a view into the price of big macs internationally. A big mac costs €4.25 in the euro area and US$5.66 as of Dec 2020. So in nations that have better minimum wages, and much more complete safety nets (and more taxes), the big mac is actually cheaper. (maybe that reflects the lower cost of universal healthcare)
https://www.economist.com/big-mac-index https://www.economist.com/big-mac-index
Note there are high safety net nations both above and below the US cost of Big mac, which signals that maybe something else is afoot there. But certainly there is enough variation to dispel that unemployment benefits are correlated the cost of the big mac.