My version of ‘adjusted for inflation’ is to look at what a paycheck could cover.
In 1960, the minimum wage was $1.00/hour and the average US home was $11,000.00 A high school graduate could own their own home. In those days, $1 million would buy you two fine homes, a fleet of cars, and enough left over to live off the income.
My version of ‘adjusted for inflation’ is to look at what a paycheck could cover.
In 1960, the minimum wage was $1.00/hour and the average US home was $11,000.00 A high school graduate could own their own home. In those days, $1 million would buy you two fine homes, a fleet of cars, and enough left over to live off the income.
In German we‘d call that kaufkraftbereinigt. Adjusted for purchasing power.
Merry Christmas.
If you’ve never seen it, watch Marilyn Monroe in “How To Marry A Millionaire.”
Two lines I always remember. The three gals walk into a Park Avenue duplex apartment and one gasps “This place must rent for $1,000.00 a month!”
They go to a nightclub with a live orchestra and a twenty girl chorus line. “My God, the cheapest thing on the menu is $5.00!”