Hi Teo, Although we had good teachers, I was usually playing the fool in my Economics class, so if I'm talking through my hat, correct me someone please!
Let me understand what you're saying with an analogy from today's world. A cup of tea costs Rs 3 in Goa and maybe $2.50 in the USofA. The prices of foodstuffs may not vary as dramatically, but also are significantly disproportionate. I can eat a decent, wholesome, warm fish-curry-rice meal at the Anandasharam restaurant for Rs 32 or Rs 35. Are you suggesting it is this "purchase value" that is more important than the fact that Yahoo! Finance tells me one single US$ exchanges for Rs 46.69 today? It's fine as long as I continue to live here and buy products whose prices are set locally. But what happens when I need to buy a book sold at US prices, or petrol priced at global figures? Or am I just missing out something? Maybe some economist on Goanet could help us decipher the maze that was colonial economics. FN 2009/12/13 Teotonio R. de Souza <[email protected]>: > Instead of official exchange of currencies, what FN should find and display > is the purchase value (specially in terms of essential goods) of the > currencies at the same time period in Goa and the neighbouring Indian > territory! That is what could provide the real value of any currency. -- Frederick Noronha :: +91-832-2409490 ANOTHER GOA: http://tiny.cc/anothergoa Facebook: http://www.facebook.com/fredericknoronha Writing, editing, alt.publishing, photography, journalism
