The Big Mac Index

FOR SEVERAL MONTHS I've been following the Big Mac Index over at The Economist. It's based on the theory of purchasing power parity -- the idea that $1 should buy the same amount in all countries. According to the theory, exchange rates between countries should move towards the rate that equalizes the prices of a basket of goods in each country. You have to have a password to read the articles, but it's worth it.

Just something fun to do if you're into that kind of thing. (Hey, it's the weekend -- what else are you going to do?)