Science, Maths & Technology
How to compare income across countries
...works over time: we assume the notional value of a portion of fish and chips, for example, to be fixed over time, and then consider how much people paid for it at a particular time using the currency of the time. We can then convert between a price of £X (1980 pounds) per portion of fish chips in 1980 and £Y (2015 pounds) per portion of fish and chips in 2015 using a...