Burgers and Borders: Decoding the Global Big Mac Index

In 1986, The Economist magazine introduced a lighthearted tool to evaluate whether international currencies were at their "e;correct"e; level. They chose a universal product manufactured to exact, identical standards in over one hundred countries: the McDonald's Big Mac. What began as a journalistic joke evolved into a highly respected and bizarrely accurate macroeconomic metric. The Big Mac Ind...