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The Economist's global rip off
Introducing The Economad Index
The first thing you’ll notice is that The Economist’s pricing indicates a world economy far crazier than the one depicted in the Big Mac Index, stretching from 93 percent overvalued to 48% undervalued (compared to 44%/-58%). They are stinging the rich petro states the hardest - hurrah - but they are also giving wealthy countries like the US, Canada, South Korea, Taiwan, and Japan a big discount compared to swathes of Africa and Asia. Even if you viewed the UK as “ground zero” of Economist pricing (as opposed to the US), the picture remains horrible: what is the justification for charging a Cook Islander 31% more than a Brit for exactly the same content delivered at near-zero marginal cost?
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