Tuesday, November 13, 2012
Labor Theory of Beer
chopinhofemenino, great blog if you read Portuguese). By the way, a pint in the US is slightly less than that (around 473ml). Note that the amount of time a worker needs to work depends on the price in dollars. So, for example, China is at the bottom of the list, with workers getting to bliss (yep a General Equilibrium concept bitches) in less than ten minutes, because beer is cheap in dollars, not as a result of high wages. Japanese workers, on the other hand, with higher wages, need to work more like 15 minutes because beer is really expensive.