Big Mac Economics | Do you live in a country where it takes you 8 or 172 minutes of work to buy one?

in economics •  6 months ago 

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Many people are trying out the fun new tool on reviewhunt (replace soyrosa with your own username) to see how many Big Macs they can earn by posting on Steem(it). For me it's 3 Big Macs, which is, according to the tool, about $17,61. This does not seem to be linked to actual Steem Payouts but is tied to other metrics which at this point are not entirely clear to me - but the tool looks pretty, works well, and exposes our Steem(it) name to other social media users as you can also check your worth of Twitter, Insta, Youtube and Medium posts.

My numbers aren't bad at all: if we let go of ideas of proper food, 3 Big Macs could feed me - as long as I posted each day I could have breakfast, lunch and dinner from my posts ;-)

Big Mac Economics


Since Big Macs are such a standardized product made with negotiating powers of MacDonalds, The Economist introduced The Big Mac Index to show some (loose) insights in buying power in different countries compared to the USD.

One suggested method of predicting exchange rate movements is that the rate between two currencies should naturally adjust so that a sample basket of goods and services should cost the same in both currencies. In the Big Mac Index, the basket in question is a single Big Mac burger as sold by the McDonald's fast food restaurant chain. The Big Mac was chosen because it is available to a common specification in many countries around the world as local McDonald's franchisees at least in theory have significant responsibility for negotiating input prices. For these reasons, the index enables a comparison between many countries' currencies.

For example, in 2018 you could buy the most expensive Big Macs in Switzerland, Sweden and the USA. The cheapest ones were sold in Egypt, Ukraine, and Russia (I've been to Russia and it was weird to see MacDonalds written in Cyrillic Script :D)

If you want to earn your Big Mac as quick as possible you should go to Hong Kong or Luxembourg, where it only takes 8,6 or 10,3 minutes of work to earn that yummee (?) meal. Nairobi, Kenya and Manilla, Phillippines have to work 172,5 or 87,5 minutes to eat the exact same meal.

Think about that: 8 or 172 minutes of work for a meal that is about as standardized as they come.

Guess in which countries American Fast Food is attractive, and in which countries it's a luxury meal OR something you can replace with a simple but healthy and cheap home cooked meal.

Anyway, let me know your Big Mac Steemit Post Worth in the comments! If yours is lower than mine I'll buy you a Big Mac someday ;-)


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To answer your curiosity, if I understand it correctly.. that's based on the buzz channel rewards..

Something like, if you promote one of the products through Steem, then you will get $17.xx (calculated from the followers and engagement on Steem)

If you put other buzz channel other than Steem like ig, fb, etc then the big Mac amount will change according to the quality/ hiw productive you could promote the products through those channels.

Hope this doesn't confuse you.. I'm guessing it too but pretty sure it works like this.

Review Hunt Fan ! 8-)8-)8-)

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Oh @waybeyondpadthai - that's awesome! That actually makes sense - makes the tool even cooler and smarter :D

Thanks for taking the time to explain! I'm glad you're a fan, there's a cool app for everyone on Steem nowadays <3

True that and you're welcome! :) <3

I'm worth 2 big macs, not too much :)

However, HUNT tokens are not the best currency to measure in, because it's not traded on any free exchange... Yet

2 Big Macs, that's not bad at all!

Would be amazing if HUNT got listed on a good exchange, I think they deserve it, very well-built product and an interesting roadmap :-)

Steem engine would be the most reasonable imo

Oh absolutely :-)

With both accounts I'm worth almost three big macs per post at $16.57 with my smaller account at less than a big mac. I think that is pretty good for the smaller account considering how little I have posted with it.
!trdo

Yes! That's actually really good! I think stuff like comments/interactions count too, read the comment of @waybeyondpadthai she seems to understand where these numbers come from :D

Congratulations @litesplasher, you are successfuly trended the post that shared by @soyrosa!
@soyrosa got 6 TRDO & @litesplasher got 4 TRDO!

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Just the one 😭😭😭😭
I need to post 3 times to stay alive :(

5E8126A4-B3DB-4FEC-8D0D-275CDFA727E7.jpeg

DAMN I need to buy you a burger someday @adetorrent! This is sad.

LOLOLOLOLOL This one got me lol

Very educational. Eye opening.

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Glad you liked it :-)

I'm a one Big Mac guy. I guess I have to settle for cabbage. But at least I'll live longer. lol

:') Yes, absolutely, there's a different kind of 'price' for eating Big Macs :D Enjoy your cabbage! :D

One Big Mac for me. I'm a few spots below Ed Sheeran...well, more than a few ;-)

:') We all are a few spots below Ed Sheeran I'd guess :D But hey, one Big Mac is better than none!

My steemit is 3 Big Macs too!
My Instagram is zero Big Macs. Fortunately my husband’s Instagram gets 23 Big Macs so we will remain well fed!!! 🤣😂🤣

🍔🍔🍔
🍔🍔🍔🍔🍔🍔🍔🍔🍔🍔🍔🍔🍔🍔🍔🍔🍔🍔🍔🍔🍔🍔🍔

Hooooly cow! What does your husband share that his account is so valuable (at least according to this one specific tool? :P)

Anyway, I hope we get to eat Big Macs (or something better :P) together someday :D

  ·  6 months ago (edited)

He has a ska music Instagram. 🤣😂 Here

This is why I end up at so many concerts! 😂

And I would love to have a Big Mac with you one day!

Hahahaha - does he make Ska music himself too?

Nope! Just a HUGE fan boy. He used to be in a band like 25 years ago, but just with a couple of buddies in his home town.

I'm super impressed! To create an account like that with 'just' fanboying instead of being an artist himself :D

I won't accept a big mac from you! Not coz it's you, but because Maccas. We had to meet a guy down the road to hand over an inverter we sold, and met him at Maccas. We were horrified at how many cars were driving in there for breakfast - so many!! So judgey. Haha... but off to check if it's higher or lower in Australia than you, coz that's fun!

:') LOL! No, you'll get a proper Burger from me, with either really good Organic meat OR A great Vegetarian Burger because I've found that is super super delicious :D

2 big macs, by the way. Two. Plus the one you will buy me, that's 3. So we are even, except you are down one. xx

Can we go for a beer instead?

Just compared to my hubby's insta, turns out I have to buy him burgers because he can't afford even one. So we're down a burger.

TWO! Not bad! But yes, let's go for a beer and only if we get hungry from the alcohol we'll do a late-night snack. It's all my treat ofc :P

My Insta also gets me 1 burger. So I have one more to give, for your husband, we can't let him go hungry <3 My boyfriend is non-existent on social-media so I've not decided yet what to do with him :')

Also: I wrote a TreasureFinds post and don't want you to miss it! :D https://steemit.com/treasurefinds/@soyrosa/treasure-the-treasure-or-handmade-dummy-for-me-to-show-my-wearable-art-on

Amazing and thank you yes I saw that but I got distracted by burgers so that's your fault haha. I will come back to it later as life is making me work for my burgers today.

Our men are clearly not earning their keep.

Same goes full stop if you are ever in Australia I will take you to our favourite burger place for a halloumi and mushroom burger on sourdough with rosemary sprinkled fries.

My mum used to make the best lentil burgers. She hasn't made them for a long time but I must resurrect her recipe.

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Whieee :D Glad you've seen it, and yes, life can make you work so hard for your burgers you don't even get the time to eat them! :')

halloumi and mushroom burger on sourdough with rosemary sprinkled fries.

Holy cow halloumi, that sounds amazing! And yes, if you find that recipe please tag me in your post - I need that! :D

I will do, and knowing mum she has it hand written in a folder somewhere from 1978 . my mum is such a record keeper. Not a hoarder, but just super organise with folders and stuff. Me? I just keep it all in my head and wing it or forget it.

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I’m waaaaay more like you :’) #wingitorforgetit

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I have been hesitant to check as I know I would not be satisfied! Luckily, I am on a low carb diet so don’t eat my one Big Mac from the results! It makes me focus on improving though as there are always opportunities to do so here!

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So interesting. Mine is 3 Big Macs.

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