The Atlantic: Why Are Some Countries More Expensive Than Others?

Good analysis from The Atlantic, but I’m dubious of the EIU’s index, at least with respect to Shanghai, which they rank five spots above New York. I moved here from New York, and there is no way Shanghai is more expensive all-around. Maybe if you buy into the real estate bubble here, maybe if you eat overpriced Western food for every meal every day, maybe if you attend movies every week and drink Starbucks and go clubbing on the weekends… Then you could probably spend more than you would living a standard, comfortable existence in Brownstone Brooklyn. But, to use the only example I really can, I am living in the nicest apartment I’ve ever had — alone — in the most desirable neighborhood in Shanghai, going out fairly regularly, and eating plenty of Western food, and I’m doing it all on a salary less than what I earned at my first job out of college, at a suburban nonprofit… and I’m still putting away plenty of yuan.

If the EIU didn’t charge to poke around, I’d be elbows-deep in their data trying to figure out how they reached that conclusion (among others).

theatlantic:

Zenaide Muneton is a nanny in New York City. Last year, she made more than $200,000, Planet Money reports. Yes, with five zeros.

How in the world can Manhattan nannies be worth $200,000 a year? One answer is that they’re more talented than your typical babysitter. The highest-paid nannies can…