Burgernomics: a Big Mac Guide to Purchasing Power Parity
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The Decline of Neoliberalism: a Play in Three Acts* O Declínio Do Neoliberalismo: Uma Peça Em Três Atos
Brazilian Journal of Political Economy, vol. 40, nº 4, pp. 587-603, October-December/2020 The decline of neoliberalism: a play in three acts* O declínio do neoliberalismo: uma peça em três atos FERNANDO RUGITSKY**,*** RESUMO: O objetivo deste artigo é examinar as consequências políticas e econômicas da pandemia causada pelo novo coronavírus, colocando-a no contexto de um interregno gram sciano. Primeiro, o desmonte da articulação triangular do mercado mundial que ca- racterizou a década anterior a 2008 é examinado. Segundo, a onda global de protestos e os deslocamentos eleitorais observados desde 2010 são interpretados como evidências de uma crise da hegemonia neoliberal. Juntas, as crises econômica e hegemônica representam o interregno. Por fim, argumenta-se que o combate à pandemia pode levar à superação do neoliberalismo. PALAVRAS-CHAVE: Crise econômica; hegemonia neoliberal; interregno; pandemia. ABSTRACT: This paper aims to examine the political and economic consequences of the pandemic caused by the new coronavirus, setting it in the context of a Gramscian interregnum. First, the dismantling of the triangular articulation of the world market that characterized the decade before 2008 is examined. Second, the global protest wave and the electoral shifts observed since 2010 are interpreted as evidence of a crisis of neoliberal hegemony. Together, the economic and hegemonic crises represent the interregnum. Last, it is argued that the fight against the pandemic may lead to the overcoming of neoliberalism. KEYWORDS: Economic crisis; neoliberal hegemony; interregnum; pandemic. JEL Classification: B51; E02; O57. * A previous version of this paper was published, in Portuguese, in the 1st edition (2nd series) of Revista Rosa. -
The Consumer Price Index and Index Number Purpose W
1 THE CONSUMER PRICE INDEX AND INDEX NUMBER PURPOSE W. Erwin Diewert, Department of Economics, University of British Columbia, Vancouver, B. C., Canada, V6T 1Z1. Email: [email protected] Paper presented at the Fifth Meeting of the International Working Group on Price Indices (The Ottawa Group), Reykjavik, Iceland, August 25-27, 1999; Revised: September, 1999. 1. INTRODUCTION1 “What index numbers are ‘best’? Naturally much depends on the purpose in view.” Irving Fisher (1921; 533). A Consumer Price Index (CPI) is used for a multiplicity of purposes. Some of the more important uses are: · as a compensation index; i.e., as an escalator for payments of various kinds; · as a Cost of Living Index (COLI); i.e., as a measure of the relative cost of achieving the same standard of living (or utility level in the terminology of economics) when a consumer (or group of consumers) faces two different sets of prices; · as a consumption deflator; i.e., it is the price change component of the decomposition of a ratio of consumption expenditures pertaining to two periods into price and quantity change components; · as a measure of general inflation. The CPI’s constructed to serve purposes (ii) and (iii) above are generally based on the economic approach to index number theory. Examples of CPI’s constructed to serve purpose (iv) above are the harmonized indexes produced for the member states of the European Union and the new harmonized index of consumer prices for the euro area, which pertains to the 11 members of the European Union that will use a common currency (called Euroland in the popular press). -
Mcdonald's Nutrition Information
McDonald's USA Nutrition Facts for Popular Menu Items We provide a nutrition analysis of our menu items to help you balance your McDonald's meal with other foods you eat. Our goal is to provide you with the information you need to make sensible decisions about balance, variety and moderation in your diet. % DAILY VALUE Nutrition Facts Fat (g) Serving Size Calories Calories from Fat Total Fat (g) % Daily Value** Saturated Fat (g) % Daily Value** Trans Cholesterol (mg) % Daily Value** Sodium (mg) % Daily Value** Carbohydrates (g) % Daily Value** Dietary Fiber (g) % Daily Value** Sugars (g) Protein (g) Vitamin A Vitamin C Calcium Iron Sandwiches 3.5 oz Hamburger (100 g) 250 80 9 13 3.5 16 0.5 25 9 520 22 31 10 2 6 6 12 0 2 10 15 4 oz Cheeseburger (114 g) 300 110 12 19 6 28 0.5 40 13 750 31 33 11 2 7 6 15 6 2 20 15 Double 5.8 oz Cheeseburger (165 g) 440 210 23 35 11 54 1.5 80 26 1150 48 34 11 2 8 7 25 10 2 25 20 5.3 oz McDouble (151 g) 390 170 19 29 8 42 1 65 22 920 38 33 11 2 7 7 22 6 2 20 20 Quarter 6 oz Pounder®+ (169 g) 410 170 19 29 7 37 1 65 22 730 30 37 12 2 10 8 24 2 4 15 20 Quarter Pounder® with 7 oz 510 230 26 40 12 61 1.5 90 31 1190 50 40 13 3 11 9 29 10 4 30 25 Cheese+ (198 g) Double Quarter Pounder® with 9.8 oz 740 380 42 65 19 95 2.5 155 52 1380 57 40 13 3 11 9 48 10 4 30 35 Cheese++ (279 g) 7.5 oz Big Mac® (214 g) 540 260 29 45 10 50 1.5 75 25 1040 43 45 15 3 13 9 25 6 2 25 25 7.2 oz Big N' Tasty® (206 g) 460 220 24 37 8 42 1.5 70 23 720 30 37 12 3 11 8 24 6 8 15 25 Big N' Tasty® 7.7 oz with Cheese (220 g) 510 250 28 43 11 -
Gold As a Store of Value
WORLD GOLD COUNCIL GOLD AS A STORE OF VALUE By Stephen Harmston Research Study No. 22 GOLD AS A STORE OF VALUE Research Study No. 22 November 1998 WORLD GOLD COUNCIL CONTENTS EXECUTIVE SUMMARY ..............................................................................3 THE AUTHOR ..............................................................................................4 INTRODUCTION..........................................................................................5 1 FIVE COUNTRIES, ONE TALE ..............................................................9 1.1 UNITED STATES: 1796 – 1997 ..................................................10 1.2 BRITAIN: 1596 – 1997 ................................................................14 1.3 FRANCE: 1820 – 1997 ................................................................18 1.4 GERMANY: 1873 – 1997 ............................................................21 1.5 JAPAN: 1880 – 1997....................................................................24 2 THE RECENT GOLD PRICE IN RELATION TO HISTORIC LEVELS....28 2.1 THE AVERAGE PURCHASING POWER OF GOLD OVER TIME ................................................................................28 2.2 DEMAND AND SUPPLY FUNDAMENTALS ............................31 3 TOTAL RETURNS ON ASSETS ..........................................................35 3.1 CUMULATIVE WEALTH INDICES: BONDS, STOCKS AND GOLD IN THE US 1896-1996 ....................................................35 3.2 COMPARISONS WITH BRITAIN ..............................................38 -
Big Mac Sheds Its Lettuce ... Not Its Calories
18 Chemainus Courier OCTOBER 2007 Big Mac sheds its lettuce ... not its calories n the world of fast food, there is perhaps nothing thin layers: three slices of bun, two patties, lettuce, more emblematic than a Big Mac from cheese, sauce, onion and pickle, makes for a kind of McDonald’s. This year the world’s largest restau- homogenized effect: soggy, if you know what I mean. CHEMAINUS EATS With a total 3.2 oz of beef, the Big Mac hardly qualifies rant chain marks the 40th anniversary of the introduc- Tom Masters & as a hamburger compared to, say, the Quarter Pounder tion of the double-decker burger. Sharon Stocco I (420 cal) or the Big Xtra (500 cal) with their 4 oz patty. Often maligned, reviled and defended, it is consumed by the billions. For Sharon, fries are the thing. Crisp, hot, nice What, exactly, is a Big Mac? In the spirit of true and seasoning, taken together contribute only 8. potato flavour. A medium portion adds 360 cal to the journalistic enquiry, Sharon and I decided to find out. On first picking up the Big Mac, it will shed about total.Amedium Coke adds another 220 for a grand We opted to rely not only on our own taste and half its chopped lettuce, but that represents only about total of 1,110 calories, about half or more of your daily judgment, but on hard data unearthed with the help of 1.5 calories. The taste is inoffensively bland, despite nutritional requirement. (Adjust here for sex, age, those ubiquitous tools of research today, the laptop the special sauce with its thirty-three ingredients. -
AVAILABLE from a Price Index for Deflation of Academic R&D
DOCUMENT RESUME ED 067 986 HE 003 406 TITLE A Price Index for Deflation of Academic R&D Expenditures. INSTITUTION National Science Foundation, Washington, D.C. REPORT NO NSF-72-310 PUB DATE 72 NOTE 38p. AVAILABLE FROMSuperintendent of Documents, U.S. Government Printing- Office, Washington, D.C. 20402 ($.25, 3800-00122) EDRS PRICE MF-$0.65 HC-$3.29 DESCRIPTORS Costs; Educational Finance; *Educational Research; Financial Problems; *Financial Support; *Higher Education; Research; Research and Development Centers; *Scientific Research; *Statistical Data ABSTRACT This study relates to price trends affecting research and development (R&D) activities at academic institutions. Part I of this report provides the overall results of the study with limited discussion of measurement concepts, methodology and limitations. Part II deals with price indexes and deflation-general concepts and methodology. Part III discusses methodology and data base and Part IV describes alternative computations and approaches. Statistical tables and charts are included.(Author/CS) cO Cr` CD :w U S DEPARTMENT OF HEALTH EDUCATION & WELFARE OFFICE OF EDUCATION THIS DOCUMENT HASBEEN REPRO DUCED EXACTLY ASRECEIVED FROM THE PERSON OR ORGANIZATION ORIG INATING IT POINTS OFVIEW OR OPIN IONS STATED DONOT NECESSARILY REPRESENT OFFICIALOFFICE OF EDU CATION POSITION OR POLICY RELATED PUBLICATIONS Title Number Price National Patterns of R&D Resources: Funds and Manpower in the United States, 1953-72 72-300 $0.50 Resources for Scientific Activities at Universi- ties and Colleges, 1971 72-315 In press Availability of Publications Those publications marked with a price should be obtained directly from the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. -
Print Recipe
PAGE 1 Devin Alexander www.devinalexander.com McDonald’s: Big Mac From “Fast Food Fix” Save: 174 calories, 19 g fat, 7 g sat. fat The key to re-creating the Big Mac is obviously perfecting the sauce. Some Photo: Lisa Cohen say it’s simply Thousand Island, but the clever folks at McDonald’s deserve much more credit for this masterpiece we crave. In order to re-create the sauce, I had to ensure that I had a supply that I could taste on its own—away from the other great flavors this burger stacks. So I requested “extra on the side.” The friendly woman behind the counter didn’t flinch. She quickly produced a sundae cup half-filled with the neon, salmon-colored sauce. When I took a big sniff, all I could smell was a chemicalesque aroma. Tasting, on the other hand, yielded that wonderful flavor. Several tastings and I was convinced. The secret ingredient? Mustard. Simple yellow mustard. Add that and a pinch of sugar to a Thousand Island–style sauce, and you’ll be surprised how closely it resembles the real deal. 3 ounces 96% lean ground beef (about 1⁄3 cup) 2 pinches of salt 1 sesame seed hamburger bun + 1 bun bottom 1 slice (1⁄2 ounce) 2% milk yellow American cheese 1 tablespoon + 1 teaspoon + 1 tablespoon McDonald’s Big Mac Sauce (opposite page) 1 teaspoon finely chopped white onion 1⁄3 cup shredded iceberg lettuce 2 rounds dill pickle Divide the beef in half. On a sheet of waxed paper, shape each half into a 4" patty. -
Mcdonald's USA Food Exchanges
McDonald's USA Food Exchanges McDonald's provides food exchanges for our popular menu items to assist our customers with meal planning for diabetes and weight control. Menu Item Calories Food Exchanges Sandwiches Hamburger 250 2 carbohydrate, 1.5 medium fat meat Cheeseburger 300 2 carbohydrate, 2 medium fat meat, 0.5 fat Double Cheeseburger 440 2 carbohydrate, 4 medium fat meat, 1 fat McDouble 390 2 carbohydrate, 3.5 medium fat meat, 0.5 fat Quarter Pounder® with Cheese+ 510 2 carbohydrate, 4 medium fat meat, 2 fat Double Quarter Pounder® with Cheese++ 740 2 carbohydrate, 7 medium fat meat, 3 fat Big Mac® 540 3 carbohydrate, 3.5 medium fat meat, 2.5 fat Big N' Tasty® 460 2 carbohydrate, 3 medium fat meat, 2 fat Big N' Tasty® with Cheese 510 2 carbohydrate, 3.5 medium fat meat, 2.5 fat Angus Bacon & Cheese 790 3 carbohydrate, 6 medium fat meat, 1.5 fat Angus Deluxe 750 3 carbohydrate, 4.5 medium fat meat, 2.5 fat Angus Mushroom & Swiss 770 3 carbohydrate, 5.5 medium fat meat, 1.5 fat Filet-O-Fish® 380 3 carbohydrate, 1.5 medium fat meat, 3.5 fat McChicken ® 360 3 carbohydrate, 2 medium fat meat, 1.5 fat McRib ®† 500 2.5 carbohydrate, 3 high fat meat Premium Grilled Chicken Classic Sandwich 350 2.5 carbohydrate, 2.5 lean meat, 1 fat Premium Crispy Chicken Classic Sandwich 510 3.5 carbohydrate, 2.5 medium fat meat, 1 fat Premium Grilled Chicken Club Sandwich 460 2.5 carbohydrate, 2.5 lean meat, 2 medium fat meat, 1 fat Premium Crispy Chicken Club Sandwich 620 3.5 carbohydrate, 4.5 medium fat meat, 1 fat Premium Grilled Chicken Ranch BLT -
Does Google Search Index Help Track and Predict Inflation Rate? an Exploratory Analysis for India
Does Google Search Index Help Track and Predict Inflation Rate? An Exploratory Analysis for India By G. P. Samanta1 Abstract: The forward looking outlook or market expectations on inflation constitute valuable input to monetary policy, particularly in the ‘inflation targeting' regime. However, prediction or quantification of market expectations is a challenging task. The time lag in the publication of official statistics further aggravates the complexity of the issue. One way of dealing with non-availability of relevant data in real- time basis involves assessing the current or nowcasting the inflation based on a suitable model using past or present data on related variables. The forecast may be generated by extrapolating the model. Any error in the assessment of the current inflationary pressure thus may lead to erroneous forecasts if the latter is conditional upon the former. Market expectations may also be quantified by conducting suitable surveys. However, surveys are associated with substantial cost and resource implications, in addition to facing certain conceptual and operational challenges in terms of representativeness of the sample, estimation techniques, and so on. As a potential alternative to address this issue, recent literature is examining if the information content of the vast Google trend data generated through the volume of searches people make on the keyword ‘inflation' or a suitable combination of keywords. The empirical literature on the issue is mostly exploratory in nature and has reported a few promising results. Inspired by this line of works, we have examined if the search volume on the keywords ‘inflation’ or ‘price’in the Google search engine is useful to track and predict inflation rate in India. -
WT/GC/W/757 16 January 2019 (19-0259) Page
WT/GC/W/757 16 January 2019 (19-0259) Page: 1/45 General Council Original: English AN UNDIFFERENTIATED WTO: SELF-DECLARED DEVELOPMENT STATUS RISKS INSTITUTIONAL IRRELEVANCE COMMUNICATION FROM THE UNITED STATES The following communication, dated 15 January 2019, is being circulated at the request of the delegation of the United States. _______________ 1 INTRODUCTION 1.1. In the preamble to the Marrakesh Agreement Establishing the World Trade Organization, the Parties recognized that "their relations in the field of trade and economic endeavor should be conducted with a view to raising standards of living, ensuring full employment and a large and steadily growing volume of real income and effective demand, and expanding the production of and trade in goods and services, while allowing for the optimal use of the world's resources in accordance with the objective of sustainable development…." 1.2. Since the WTO's inception in 1995, Members have made significant strides in pursuing these aims. Global Gross National Income (GNI) per capita on a purchasing-power-parity (PPP) basis, adjusted for inflation, surged by nearly two-thirds, from $9,116 in 1995 to $15,072 in 2016.1 The United Nations Development Program's (UNDP) Human Development Index (HDI) for the world increased from 0.598 to 0.728 between 1990 and 2017.2 According to the World Bank, between 1993 and 2015 — the most recent year for which comprehensive data on global poverty is available — the percentage of people around the world who live in extreme poverty fell from 33.5 percent to 10 percent, the lowest poverty rate in recorded history.3 Despite the world population increasing by more than two billion people between 1990 and 2015, the number of people living in extreme poverty fell by more than 1.1 billion during the same period, to about 736 million.4 1.3. -
How Real Is the Threat of Deflation to the Banking Industry?
An Update on Emerging Issues in Banking How Real is the Threat of Deflation to the Banking Industry? February 27, 2003 Overview The recession that began in March 2001 has had a generally benign effect on the banking industry, which remains highly profitable and well capitalized. The current financial strength of the industry is an important buffer against the effects of economic shocks. Nevertheless, the Federal Deposit Insurance Corporation (FDIC) routinely considers a number of economic scenarios that could develop over the next several quarters to evaluate factors that could result in the erosion in the financial health of individual banks or the industry. One such scenario that could present a major challenge to the banking industry involves deflation. This paper outlines the current debate over deflation, focusing on its potential effect on the banking industry. What is Deflation and How Does It Affect the Economy? Deflation refers to a decline in the general price level, usually caused by a sharp decline in money or credit supply or a severe contraction in the economy.1 Although sometimes used interchangeably, deflation differs from disinflation -- a falling rate of inflation. Although there have been sector-specific downward price adjustments, the U.S. economy has not experienced an outright decline in the aggregate price level since World War II, except for a brief and mild deflation in 1949.2 However, the inflation rate in the U.S. has fallen steadily since the early 1980s. In order to fully understand the effect of deflation on economic output, it is important to differentiate the concept of a "real" value from a "nominal" value. -
The Big Mac Index: a Shortcut to Inflation and Exchange Rate
CORE Metadata, citation and similar papers at core.ac.uk Provided by Clute Institute: Journals International Business & Economics Research Journal – July/August 2014 Volume 13, Number 4 The Big Mac Index: A Shortcut To Inflation And Exchange Rate Dynamics? Price Tracking And Predictive Properties Luis San Vicente Portes, Montclair State University, USA Vidya Atal, Montclair State University, USA ABSTRACT The Economist magazine has been publishing the Big Mac Index using it as a rule of thumb to determine the over- or under-valuation of international currencies based on the theory of Purchasing Power Parity since 1986. According to the theory, using the Big Mac as a tradable single-good basket, the Dollar-value of the hamburger should be equalized around the world due to arbitrage. The popularity and following of the Big Mac Index led the authors to the following two questions: 1) How effective is the Big Mac price as an indicator of overall inflation? and 2) how accurate are exchange rate movement predictions based on Big Mac prices? They find that Big Mac prices tend to lag overall inflation rates, which is highly important in studies that use Big Mac prices as measures of affordability or real incomes over time. As a guide to exchange rate movements, there is support for the theory of Purchasing Power Parity, but only as a qualitative indicator of movement in the nominal exchange rate in rich and economically stable countries, proving less effective in forecasting exchange rate movements in emerging markets. The statistical analysis is carried out using data from 1986 to 2012 from The Economist and from the World Bank for 54 countries.