By: Ainsley Brown
The Economists has posted a very interesting question: “How long does it take to afford a beer?”
An absurd question, right?
The combination of beer and economics – beeronomics if you will – is not as absurd idea as one might think. Just think about it, for a second.
How long it takes a worker to be able to afford a beer speaks to many things within a nation’s economy; from income (including minimum wages), to taxes, to its laws. I would go as far as saying that this could be a measure of the quality of life for the average –Joe six pack – citizen.
Take a look at this graph.
Beeronomics is a good example of a metric where Micro meets Macro economics and I hope those charged with the management of economies worldwide are paying attention.