Been watching the History channel presentation of the Men who built America. I'm fascinated with their history portrayal of Vanderbilt, Rockefeller, Carnegie, Morgan and Ford.
Especially when they give the comparison of money then and it's equivalent not. It's all over the place.
At onetime they have. 12 year old Andy Carnegie working at an early telegraph office doing errands . His wage is $2.50 per week, which they say is equivalent to $1000 now. He had to quit school to help his family expenses, showing him giving his money over to his mother who shakes her head in sadness that he has to give his meager wage to her. meager! If its equivalent to $1000 then that means young Andy is bringing $48,000 yearly.
That's not bad in today's economy. Would support his whole fam.
Other times they give inflation factor of 15 others at 200 and even others at 1000 and 1800 onetime. Don't know how they are figuring it.
I've always seen the inflection factor of about 25 to 30 from mid. 1800's to modern.
If we don't count our blessings We are just wasting our time
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