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How much beef can you buy?

January 25, 2007
By Ken Worsley


The Marmot’s Hole, a blog focusing on South Korea and life in that country, has assembled an interesting post that gets down to the bottom of figuring out just how much beef one could buy on the average salary in Korea, Japan, Mexico, the UK, the US and Italy. The post was inspired by a recent Korea Times article reporting that Koreans pay more per kilogram of beef than any other nation in the OECD. The article touches on issues of protectionism in agricultural and livestock markets, and includes this oddly worded quote:

Despite hight beef prices, the majority of Koreans do not want to consume meat from cattle raised in countries that have experienced mad cow disease.

Excellent post, although it might have been better to use nominal GDP as a means to calculate how much beef one can purchase in the various countries.

Filed Under Blogosphere, Econ Light 

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Comments

2 Responses to “How much beef can you buy?”

  1. Dram_man on January 27th, 2007 5:36 am

    As the author, thanks for the kind referral. I do agree the calculations could be done done better, but as I say at times the post is intended to be a quick and dirty look at the numbers behind the story. It is more food for thought than anything.

    Thanks again.

  2. Ken on January 28th, 2007 2:21 pm

    I agree with you. I don’t think there’s a big issue with the calculations at all; the difference would be slight if they were adjusted and the order of the nations the same. I was saying it’s a great example of the opportunity bloggers have but rarely take; use stats and figures to back up what they’re saying. At any rate, I’ll definitely be back to read!

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