Big Mac Economy

Here's further proof that even if the world currency is switched to burgers, the Philippines is still hanging tough at the bottom rung:

The Big Mac PPP is the exchange rate that would leave a burger in any country costing the same as in America. The first column of our table converts the local price of a Big Mac into dollars at current exchange rates. The average price of a Big Mac in four American cities is $2.90 (including tax). The cheapest shown in the table is in the Philippines ($1.23), the most expensive in Switzerland ($4.90). In other words, the Philippine peso is the world's most undervalued currency, the Swiss franc its most overvalued.

We're the world's favorite whipping burgers. Or, as some people would say, the politician with the least fault may cast the first cheeseburger.From The Economist's Big Mac Index, via rebecca blood