OT - Economist - cost of living index

[VikingsCat]

I have never paid attention to all the cities Economist include in this survey, but cred to Lexington for being one of 15 US cities included. That actually means that Economist views Lexington amongst the top US cities for international business.

http://www.economist.com/blogs/graphicdetail/2017/03/daily-chart-13

 

[Lexie's Dad]

More likely means that an economist at UK had a grant and participated in this survey (specifically grad students participated), or was helping a friend.

I was surprised by how relatively high the cost of living in Lexington is compared to other US cities. High prices and traffic? Sign me up!

 

[Hank Camacho]

I was surprised by how relatively high the cost of living in Lexington is compared to other US cities. High prices and traffic? Sign me up!

Eh? Ok.

 

[Ron Mehico]

I was surprised by how relatively high the cost of living in Lexington is compared to other US cities. High prices and traffic? Sign me up!

You forgot all the fine dining and entertainment options!

 

[dgtatu01]

More likely means that an economist at UK had a grant and participated in this survey (specifically grad students participated), or was helping a friend.

I was surprised by how relatively high the cost of living in Lexington is compared to other US cities. High prices and traffic? Sign me up!

UK actually has a really good graduate economics program so this is the correct reason why Lexington was in the study. Someone there volunteered to do the work. This is pretty common with these types of things for the economist.

That said Lexington's cost of living verses income potential is probably fairly low value. The constraints on real estate create artificially high home prices for the relative income of the area. That's why a lot of folks live in Jessamine, Scott, Madison, and Clark counties etc. A not insignificant amount of the people that live in and around Lexington are older baby boomers who made money in Eastern KY and GTFO for retirement. Even more resources drained out of the mountains, but I don't blame any of them, my folks followed me and my sister to Louisville when they started winding their careers down.

 

[Lexie's Dad]

You forgot all the fine dining and entertainment options!

That's the trade off. You get the good things, you pay for it with high price levels and log jammed commutes. It's a decision that people make based on individual preferences.

 

[VikingsCat]

More likely means that an economist at UK had a grant and participated in this survey (specifically grad students participated), or was helping a friend.

I'm not really sure how much you are familiar with Economist in general and the specifics of this survey, so bare with me if I misunderstood you.
First of all Economist is a highly credited business magazine that focuses both on specific topics, but also on the world of international business. Among its readers you will find top executives and diplomats from all around the world. Basically you can say thay anyone that does business in foreign countries read Economist. Part of the Economist is something named "Economist Intelligence Unit" (EIU) that provides the public, companies and governments worldwide strategic business information. EIU have published this cost of living index since 1946! The index is referenced in newspapers worldwide and both politicians and business decision makers pays attention to it. In fact, both large international companies and countries base their international travel expense plans and salary schemes to expats on the index.
So, this is no little insignificant index, but an index that carries a lot of weight internationally.

 

[WayneDougan_rivals170043]

UK actually has a really good graduate economics program

[laughing]

 

[Lexie's Dad]

I'm not really sure how much you are familiar with Economist in general and the specifics of this survey, so bare with me if I misunderstood you.
First of all Economist is a highly credited business magazine that focuses both on specific topics, but also on the world of international business. Among its readers you will find top executives and diplomats from all around the world. Basically you can say thay anyone that does business in foreign countries read Economist. Part of the Economist is something named "Economist Intelligence Unit" (EIU) that provides the public, companies and governments worldwide strategic business information. EIU have published this cost of living index since 1946! The index is referenced in newspapers worldwide and both politicians and business decision makers pays attention to it. In fact, both large international companies and countries base their international travel expense plans and salary schemes to expats on the index.
So, this is no little insignificant index, but an index that carries a lot of weight internationally.

I have degrees in economics, have taught economics as an adjunct for 20 + years, and I've read The Economist many times.

I still say an economist at UK had a grant or was helping a friend. That's how these things work. My friends at Murray State write papers with the folks they work with or went to school with or met at conferences - friends. It's not a feather in Lexington's cap to be in a cost of living survey.

 

[WayneDougan_rivals170043]

I discontinued the Economist several years ago. Lynn De Rothschild is on the board and she is a freaking idiot, which makes me question what kind of crap they are pumping out.

 

[rmattox]

Looks more like a list of cities you'd want to avoid living in.