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About this project
What this amount really worth ? That's the simple question this project wants to answer.
News and political speeches contain a lot of big amounts but such numbers are not easily understandable by themselves. Are you be able to represent yourself what really are 5 billion US Dollars?
We created this tool to compare such big amounts, we called theses amounts the stories.
A story, in our application, represents a spending. It can be all kind of spending, like public budget, construction costs etc..
One spending can be describe by 3 major information:
- the
currency
used - the
year
of this spending - the
amount
of the spending
Every story must also have the following informations
- one
title
, - one
description
- and one
source
URL.
Such informations are really helpful to understand a particular spending event. Therefor we can answer the "What is it?" and "where does it come from?" questions.
We dissociated two kinds of stories.
- discrete
- repeatable stories
name | Description | Example |
---|---|---|
value | The value of the spending, it's the amount of the spending. | 11,000,000 |
currency | Story's currency | UK Pound (GBP) |
title | The story title | Consultancy on Cardiff Airport buyout |
description | A short description of our story | Consultancy work surrounding the purchase, including valuation, totalled more than £912,00 and with VAT that figure rose to £1.1m. |
country | The country (or zone) of the story | France (FRA) |
source | The story's source URL. | |
type | ||
status | ||
sticky | ||
year | ||
themes |
The autor of a story give us the following informations:
"value": 100e6,
"year": 2010,
"country": "FRA",
"currency": "EUR",
We need to complete its story in calculating and saving the following informations:
"inflation_last_year":?
"value_current": ?,
"value_usd_current":?,
###1. Fill the field inflation_last_year
The inflation is calculated using the Python module economics. inflation_last_year
is the last year for which we can compute the inflation. It depends of the data given by https://github.com/datasets/cpi
###2. Fill the field value_current
The field "value_current" is calculated using the inflation from the year of the story and the reference value "inflation_last_year".
How many "currency"(EUR) would I need in "inflation_last_year"(2012) to pay for what cost "value"(100e6) in "year"(2010)?
inflation.inflate(100e6, datetime.date(2012,1,1), datetime.date(2010,1,1), 'France')
# Response: `112871266.26 EUR`
###3. Fill the field value_usd_current
The USD is our reference currency for comparison, so we need to convert the "value_current" into an USD currency.
To do that we can request our Rates API like so:
http GET /api/rates/EUR HTTP/1.1
Content-Type: application/text; charset=utf-8
#Response: `1.3247`
So now we can convert the value into dollars:
coffeescript exchange_rate = response
user_amount_usd = exchange_rate * value_current
1.3247 * 112871266.26 = 149520744.509
# Response: `1.149520744.509 USD`
###3. Final Result
"value": 100e6,
"year": 2005,
"country": "FRA",
"currency": "EUR",
"value_current": 112871266.26,
"value_usd_current": 149520744.509,
"year": 2010,
"inflation_last_year": 2012,