Category Archives: Humor

Big Mac versus iPad Mini

Some of you might be familiar with the Big Mac Index, an index calculated by The Economist that compares the prices of Big Macs across countries (see Economist BMI Page). The underlying idea is that, by comparing the relative cost of Big Macs, we can get a sense for whether exchange rates appropriately equalize the prices of goods across countries in the manner suggested by Purchasing Power Parity (PPP) theory. If the price of Big Macs is not equivalent across countries, some take that to suggest that currency exchange rates are out of whack – i.e., one currency is overvalued while the other is undervalued.

Irrespective of what you believe about the Big Mac Index – whether you think it truly is indicative of exchange rate imbalances, or simply exposes shortcomings of PPP theory – it has gained currency amongst economists, though admittedly, mostly as a humorous diversion.

Nevertheless, Benn Steil and Dinah Walker, bloggers at the Council on Foreign Relations, offer an “updated” version of such an index by examining the relative prices of a product that they argue is likely to be more homogenous from country to country – the Apple iPad Mini (click on the figure below to see a larger image, or visit CFR iPad Mini Index for the full story).

ipad-mini-index-BIG2

Compared side-by-side, the Big Mac and iPad Mini indexes differ markedly. So who has it right? Or is this just further evidence that PPP theory needs to be revisited?

 

More on this topic (What's this?) Read more on Apple, Big Mac Index at Wikinvest
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Facebook Terms of Service

A hysterical translation of Facebook’s terms of service from legalese to vernacular provided by Slacktory (see Play Nice, B*tches, ht Gene).

The Entire Facebook Terms of Service in Bro Speak

The Facebook Terms of Service is a b*tch to read. So we translated it into a more familiar vernacular (with a lot of swearing). You can also read it in parts. Everything from here on out is from Facebook. Kinda.

We use English, b*tches. Yeah, we translated it for some of you, but if the translation says anything different at all, English rules. So if you’re not reading this in English, technically none of it matters. Just FYI. Also, you foreigners should check out section 16, f*cking stat.

We last f*cked with this: April 26, 2011.

Statement of Rights and Responsibilities

All these rules are based on some other rules we have that aren’t really rules so much as guidelines. These rules, though, are the real rules, and they say what you can and can’t do on Facebook, and what we can and can’t do with your sh*t.  We treat your use of Facebook exactly like college athletes treat silence – consent, motherf*ckers.

1. Privacy

We give lots of f*cks about your privacy, so we wrote this. Read it, so you know what the f*ck we’re going to do with the sh*t you post, so you’re not all “Facebook, I had no idea!” when your sh*t is in our press releases. That way you know the deal when you’re deciding what to post. Next: Sharing your shit. »..continue reading

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China Overtaking the U.S.

Wonderfully rich exposition of the economic competition between China and the U.S. from The Economist (see China Overtakes U.S.).

Constant worrying about exactly when the superpower will fall into second place is causing anxiety throughout American society…[but] in some important fields, China has already surpassed America.

Great stuff!

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