Measuring Worth

[Dave]

In a book I'm reading I came across a nice link : http://www.measuringworth.com

 

It's a nice website that computes the relative worth of money going back to 1774 in the US, and 1831 in the UK, 1879 in Japan, and 1952 in China. There is an interesting essay on measuring worth and a lot of nice links that are filled with very interesting information.

 

There are 7 different methods of computing this information - all done at once - and each one gives an insight into how much it was worth based on value, affordability, inflaition, etc. This will help us to understand how much a certain amount of money that we might have in our collection, say a 1934 $100 bill would be worth today:

 

In 2009, $100.00 from 1934 is worth:

 

$1,600.00 using the Consumer Price Index

$1,320.00 using the GDP deflator

$4,040.00 using the unskilled wage

$4,960.00 using the Production Worker Compensation

$8,890.00 using the nominal GDP per capita

$21,600.00 using the relative share of GDP

 

Cool, huh?

[thedeadpoint]

Definitely is, thanks for sharing, Dave!