There are all kinds of inaccuracies in this, but the major point that we are very very very rich still comes through.
The Economist has updated their annual Big Mac Index.
…based on the theory of purchasing-power parity (PPP), the notion that in the long run exchange rates should move towards the rate that would equalise the prices of an identical basket of goods and services (in this case, a burger) in any two countries. For example, the average price of a Big Mac in America in January 2014 was $4.62; in China it was only $2.74 at market exchange rates. So the “raw” Big Mac index says that the yuan was undervalued by 41% at that time. Burgernomics was never intended as a precise gauge of currency misalignment, merely a tool to make exchange-rate theory more digestible.
Interesting footnotes: India’s Maharaja Mac is made out of chicken.
A spiffy annotated interactive visualization by the NYT on what different industries actually pay in taxes. The differences in rates between industries illustrate who is getting tax breaks. The related article is worth a read.
Some basic demographic data on the United States and the World. Besides being able to drill down into the numbers several different ways there are a couple of interactive charts – like the population pyramid where you can watch the baby boomer bulge move over the years.
OK, this isn’t a chart. But it is an incredibly well designed and hilarious rap video about economic theory. Images and methods are are powerful communication tools. Check out EconStories for more music videos and mini-documentaries.
This year, in interactive format, allowing you to select a base currency and see the changes over time.
Where most regions are grappling with the strains of an aging population – Africa is having the opposite experience.
The New York Times uses resized maps to illustrate some relative economic indicators. Resized non-contiguous cartograms are always interesting (mappingworlds for example), but I’m not sure they shed much light here as the country proportions are very similar across indicators. As usual, however, the NYT includes some very clear narrative notes to help you along.
A nicely annotated chart demonstrating how Germany’s economic performance compares to the rest of the Euro Area.
From The Economist:
OUTSIDE China, people tend to assume that the country’s impressive economic growth is due to exports. As the chart below, drawn from our special report on China’s economy, shows, this notion has always been exaggerated and is now plain false. China grows thanks to high levels of investment—far higher than those seen in previous Asian miracles such as South Korea and Japan. The corollary of this is low levels of private consumption. Some argue that this must lead to imbalances that one day will send China’s economy off a cliff. We disagree.
This has been making the rounds lately. I find it as interesting to look at the minimalist design inherent in modern logos as the ownership concentrations.
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