Category Archives: Economics

How African Countries Compare to One Another

The African continent is home to 54 countries ranging from prosperous ones to countries that are plagued by violence and extreme poverty.

The chart above shows how African countries compare with one another, taking into account different indicators such as human rights, education, the state of the economy, political stability, the diversity and size of its population, and access to healthcare.

Countries with the highest score (best) include Mauritius, South Africa, and Seychelles. Countries with the lowest score (worst) include Somalia and Chad. In between these two extremes there are a wide range of countries performing well in some areas, and not so well in others.

Source: PolicyMic: This Awesome Interactive Map Will Make You Think Twice About Africa

How Americans Spent Money in 2012

Housing, food, transportation, and clothing account for an estimated 66% of income spent for an average American household in 2012.

According to The Atlantic, housing, food and clothing account for more than 60% of expenses for the poor. Basically, most of their income is spent is covering basic needs and not much, or none, is left for savings. The rich, by contrast, have a larger margin that can be spent in entertainment, insurance, and savings.

Source: The Atlantic: Where Americans—Rich and Poor—Spent Every Dollar in 2012

The Most Expensive Office Locations by Country

Expensive office locations around the world share similar characteristics: they are located in premier trade and financial centers, they are sites for corporate headquarters, they are located in areas where property availability is scarce and therefore expensive, and they are located close to their most wealthy customers.

As we can see in the map above, the most expensive office spaces are located in Europe, Asia and the United States. London’s St. James area leads as the most expensive location for office space. London is followed by Hong Kong’s Central area, Beijing’s Finance Street, Geneva’s Rue du Rhône, and Silicon Valley’s Menlo Park.

Source: LinkedIn: Paying the Rent: The World’s 12 Most Expensive Office Locations

Europe’s Loss-Making Cars

European car makers are having a hard time with some of their models, which have generated big losses for the industry in the region. Here is a chart that shows European car manufacturers, their respective loss-making models, and how much money they lost per model.

Source: The Economist: Zoom, sputter, aagghhh!! – The biggest loss-making cars in Europe

Women’s Earnings by State

Comparing the median earnings of full-time employed women to the median earnings of full-time employed men in the U.S., we can see there is still a gender pay gap, where women earn 77 cents per each dollar earned by their white male counterparts. This number has remained unchanged for the last ten years.

In some states women earn slightly more. That is the case for the states of Nevada (84 cents per dollar), California, Vermont, and New York. On the other side of the spectrum, there are states where women earn much less than the median. That is the case of Wyoming (64 cent per dollar), and Louisiana (67 cents per dollar).

Source: Forbes: The Geography Of The Gender Pay Gap: Women’s Earnings By State

Hardworking People in the World

In some countries people work really hard and in others they don’t. In the map above we can see that countries where people are the most hardworking (orange) include Mexico, South Korea, and Chile, while countries where people just take it easy (blue) include France, Germany, Italy, and Norway.

This map was elaborated for OECD countries only. To get this numbers the author took into consideration the average annual hours worked per person and the average age of retirement per worker for each OECD country.

Source: Business Insider: MAP: Here Are The Countries That Work Hard And The Ones Where They Like To Relax

Parts of the World With No McDonald’s

If you travel outside the United States the likelihood that you will find a McDonald’s is very high. However, there are still many countries that do not have one. Such is the case of most South Saharan African countries, with the exception of South Africa, Botswana, and Kenya; Iran, Syria, Turkmenistan, and Afghanistan in the Middle East; Mongolia, Kazakhstan, Myanmar, Laos, Cambodia, Vietnam, and Papua New Guinea in Asia; Cuba, Haiti, Bolivia, and Guyana in the America’s. It is interesting to see that Iceland, being a highly developed European nation, does not have one either.

Note: We found this interesting map on the web, but we were unable to find its original source to give it proper credit and link to it as the source for this blog post.

The Economic Freedom Index 2013

The Economic Freedom Index, compiled by the Heritage Foundation, is a measure of the economic freedom given to citizens in each of the 185 countries where it is measured. A total of ten components of economic freedom are considered, all grouped under four categories: rule of law, limited government, regulatory efficiency, and open markets.

The highest ranking country in the list is Hong Kong, with a score of 89.3, affording its citizens the highest degree of economic freedom in the world. Hong Kong is followed by Singapore, Australia, New Zealand, Switzerland, Canada, Chile, Mauritius, Denmark, and the United States, among the top ten.

On the opposite side, the most repressed countries in terms of economic freedom include North Korea, Cuba, Zimbabwe, Venezuela, Eritrea, and Burma.

Source: International Business Times: US Economic Freedom Is At Lowest Point Since 2000 [MAP]

Climbing the Income Ladder in the U.S.

According to an article published by the New York Times it matters where you grow up in terms of upward income mobility in the United States.

The chance that a child raised in the bottom fifth (bottom 20%) will rise to the top fifth (top 20%) varies significantly within each state and across states as well. The odds are particularly bleak for the Southeast. In cities like Charlotte, Atlanta, Raleigh, to name a few, the chances of upward mobility are few, 4% or less. By contrast, the chances of upward mobility are the best in areas of the Midwest and West, 20% or higher. The odds of climbing the income ladder are good in cities like Boston, New York, Salt Lake City, Pittsburgh, and Seattle.

Source: The New York Times: In Climbing Income Ladder, Location Matters

Minutes of Minimum-Wage Work to Buy a Big Mac Burger

Using the criteria of the Big Mac Index developed by The Economist in 1986 as a way to measure if currencies are valued at the right level, the International Business Times created this visualization showing how many minutes a minimum-wage worker needs to work in order to buy a Big Mac burger.

As it turns out, a minimum-wage worker in Afghanistan needs to work 372 minutes (6.2 hours) in order to buy a Big Mac burger. In contrast, a minimum-wage worker in Australia needs to work only 18 minutes to buy a Big Mac burger.

Source: International Business Times: Minutes Of Minimum-Wage Work To Buy A Big Mac: 36 minutes in the US, 6 hours in Afghanistan

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