On 17 May 2011, at 11:18 AM, Jonathan Rochkind wrote:
> On 5/16/2011 7:52 PM, Luciano Ramalho wrote:
>> > And then we need to consider the rise of the Kindle. An ebook costs
>> > about $1.60 in 1962 dollars. A thousand ebooks can fit on one device,
>> 1) Why quote the ebook price in 1962 dollars? The reality in 2011 is
>> that Kindle books in general are too expensive, particularly when
> Yeah, how much did a paperback book cost in 1962? 50 cents? $1? I wasn't alive then, but I bet $1.60 is expensive in 1962 dollars!
I usually use one of two inflation factors (the economists use a larger basket):
a) what did that house have cost me then?
b) what would I have earned on minimum wage then if I wasn't in a job that supplied room and board?
In US, minimum wage in 1962 was $1.15/hour; in 2009 it was $7.25 (x6.3).
I wish paperbacks had only inflated at that rate
Local to where I am, the houses that in 1962 were offered for $12,000 go now in the $360,000 range (x30)
That's actually not far off what I'm seeing for some of the "thicker" paperbacks this year.