Archive for the ‘General’ Category
Why is Canada Expensive?
A few weeks ago, I attended the Academy of Management annual meeting in Montreal, Canada. Having recently written an entry on the prices of goods and services in China, I kept my eyes peeled while traveling in Canada. A subway fare was $2.75, a can of cola was $1.50, and a plate of poutine – a [...]
In: General · Tagged with: Canada, exchange rate, expensive, travel
The Cost of Living in China
Last year, I went to Germany and compared German and American prices. This year brought me to the Chinese eastern seaboard, where I once again had the opportunity to observe prices. The exchange rate was about 6.8 renminbi to the U.S. dollar, making one renminbi worth approximately 15 cents. The average Shanghaiese earns around $11,000 [...]
In: General · Tagged with: China, prices
Reducing Unemployment – The Problem with the Minimum Wage
The minimum wage in the United States is $7.25 per hour as of 2010. At that rate, a person working 2,000 hours per year (50 weeks of 40 hours) would have an annual income of $14,500. Employers must pay a number of additional taxes for workers. While workers must pay 6.2% of their income for [...]
In: Financial Crisis, General · Tagged with: minimum wage, unemployment