Have you ever wondered what “10,000 a year” in a Jane Austen novel means in today’s money? Or have the same question while reading the Great Gatsby about Tom Buchanan’s wedding present to Daisy of “a string of pearls valued at $350,000?” Or thought about how to calibrate any sum of money in the distant past to today’s world?
I've got to save this to read later but you hit on a really wonderful topic. One thing about comparing ancient incomes, labor was much cheaper, but things that we spend money on today like healthcare and electronics were flat out not available! That's real apples to oranges.
I looked this up once bc i was so tired of being confused. My rule of thumb is that 1000 pounds in 1820 was about 80k dollars, and in 1720 it was twice that. Though with our recent inflation that might be off!
And income tax wasn't implemented yet! The wealth gap was exponential back then. I loved that book. A great reminder to read it again. Oh, and the Wharton house is open again in the Berkshires. @juliasweeney has a wonderful video of her visit there.
First, I love this so much. I was just teaching Randolph Bourne's "The Handicapped" and during the Ugly Laws in the early 1900s, people with physical disabilities were fined (yes!) $1 for being in public. We were trying to figure out what that would be today. We needed your post! (Turns out it's $32.)
Second, that's not what Lily Bart looked like. You've got me wanting to read it again! Twice in one year?
I've got to save this to read later but you hit on a really wonderful topic. One thing about comparing ancient incomes, labor was much cheaper, but things that we spend money on today like healthcare and electronics were flat out not available! That's real apples to oranges.
I looked this up once bc i was so tired of being confused. My rule of thumb is that 1000 pounds in 1820 was about 80k dollars, and in 1720 it was twice that. Though with our recent inflation that might be off!
Do you suppose she had the cash in her purse at the party?
And income tax wasn't implemented yet! The wealth gap was exponential back then. I loved that book. A great reminder to read it again. Oh, and the Wharton house is open again in the Berkshires. @juliasweeney has a wonderful video of her visit there.
First, I love this so much. I was just teaching Randolph Bourne's "The Handicapped" and during the Ugly Laws in the early 1900s, people with physical disabilities were fined (yes!) $1 for being in public. We were trying to figure out what that would be today. We needed your post! (Turns out it's $32.)
Second, that's not what Lily Bart looked like. You've got me wanting to read it again! Twice in one year?
Fascinating! I always struggle to make a present day comparison so this is a great resource.