[Milsurplus] OT: Price Inflation was: FS: RAT-1

[Dave And Merrijoy]

You're right.
It's always tempting to think of 1960s prices at 2010 wages.
I, like most I reckon, forget that buying those items in the 1960s 
was just as hard at '60s wages as perhaps those same items at 
2010 prices and 2010's wages.
My take anyway.
Dave w9ocm


----- Original Message ----- 
From: <arc5 at ix.netcom.com>
To: <milsurplus at mailman.qth.net>
Sent: Tuesday, June 22, 2010 5:58 PM
Subject: [Milsurplus] OT: Price Inflation was: FS: RAT-1


> In fact, the whole idea of calculating inflated prices
> is a "red herring," designed to keep us from looking
> at the real problem.   What matters is not price, 
> but purchasing power per hour of work.
> 
> If you really want to be depressed,
> create a basket of household commodities
> and throw-in a couple of major items, like
> say a refrigerator and a washing machine,
> that the aveage family would need and use.
> Take the median wage from, say, 1964 in your field
> and calculate how many hours you would have to work
> to pay for it in 1964.
> Now take your pay today and calculate how many 
> hours you'd need to work to pay for it today.
> It's an eye-opener.
> 
> 73 Dave S.
> 
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