Mike,
You are correct that this is a complicated issue. One site
that helps to illustrate this is: http://www.eh.net/hmit/compare/
This site claims to make such relative value adjustments
using several different criteria. I just finished teaching
THE MALTESE FALCON. Students wanted to know how much money
was truly being discussed when Spade is offered $10,000. I
plugged in the amount and the original year of
publication.
In 2004, $10,000.00 from 1929 is worth:
$110,206.83 using the Consumer
Price Index (CPI)
$91,111.93 using the GDP
deflator
$350,858.47 using the unskilled
wage
$51,504.11 using the GDP per
capita
$1,132,654.44 using the
relative share of GDP
Clearly, they have not updated the site in two years, but it
still shows how such comparisons are not cut-and-dry. Still,
I find the CPI to be the most useful, as it "tries to compare
the cost of things the average household buys such as food,
housing, transportation, medical services, etc."
~Marc
_____________________ Marc Seals, PhD Department of English
University of South Florida
----- Original Message -----
From: Michael Witty
Dear Jeff,
> As a starting point 20 cents in 1925 is worth
$2.27
> in 2006 dollars.
How do you make calculations like this? On
the
surface it seems like it might be simple, but the
more
I think the more I am sure it is
complicated.
Regards, Mike.
[Non-text portions of this message have been removed]
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