TrackShovel@lemmy.today to Microblog Memes@lemmy.worldEnglish · 17 days agoAvocado toastlemmy.todayimagemessage-square126linkfedilinkarrow-up11.22Karrow-down112
arrow-up11.21Karrow-down1imageAvocado toastlemmy.todayTrackShovel@lemmy.today to Microblog Memes@lemmy.worldEnglish · 17 days agomessage-square126linkfedilink
minus-squarekrisevol@lemmus.orglinkfedilinkEnglisharrow-up9·17 days agoand inflation by m2 supply. Minumum wage in 1950 was 0.75/hr, which would be $58.97 today.
minus-squareFishFace@piefed.sociallinkfedilinkEnglisharrow-up4·17 days agoI’m not totally sure what you mean by that but it can’t have translated into actual price inflation, which would give around $10 today from 75c in 1950.
minus-squarekrisevol@lemmus.orglinkfedilinkEnglisharrow-up3arrow-down2·17 days agoUsing m2 for inflation is the most accurate way to do it. If you use cpi is will be off by a large number in the long run
and inflation by m2 supply. Minumum wage in 1950 was 0.75/hr, which would be $58.97 today.
I’m not totally sure what you mean by that but it can’t have translated into actual price inflation, which would give around $10 today from 75c in 1950.
Using m2 for inflation is the most accurate way to do it. If you use cpi is will be off by a large number in the long run