mnbasketball
Member
- Mar 4, 2011
- 474
- 37
- 16
I keep hearing about what so many are saying about the wages for teachers and the cost of what it took to educate a student in 1970 vs today.
Ive seen as low as 5000 in 1970 and as high as 10/11000 in 2010 and they say this horrible! Well is it really? Lets take a look.
Current data is only available till 2009. $27600.00 in the year 2009 has the same "purchase power" as $5000 in the year 1970.
The 2009 observation is preliminary and will change.
kind of makes you on the right look stupid doesn't it. the teachers are doing their job of education for 2/5 ths of what it should be for the same job done.
Source note for "Purchasing Power of Money"
Another Computation?
Citation
Lawrence H. Officer and Samuel H. Williamson, "Purchasing Power of Money in the United States from 1774 to 2010," MeasuringWorth, 2009.
URL: Measuring Worth - Measures of worth, inflation rates, saving calculator, relative value, worth of a dollar, worth of a pound, purchasing power, gold prices, GDP, history of wages, average wage
--------------------------------------------------------------------------------
Please let us know if and how this discussion has assisted you in using our calculators.
HOME
ABOUT US
CONTACT US
USER GUIDE
GLOSSARY & FAQ
Ive seen as low as 5000 in 1970 and as high as 10/11000 in 2010 and they say this horrible! Well is it really? Lets take a look.
Current data is only available till 2009. $27600.00 in the year 2009 has the same "purchase power" as $5000 in the year 1970.
The 2009 observation is preliminary and will change.
kind of makes you on the right look stupid doesn't it. the teachers are doing their job of education for 2/5 ths of what it should be for the same job done.
Source note for "Purchasing Power of Money"
Another Computation?
Citation
Lawrence H. Officer and Samuel H. Williamson, "Purchasing Power of Money in the United States from 1774 to 2010," MeasuringWorth, 2009.
URL: Measuring Worth - Measures of worth, inflation rates, saving calculator, relative value, worth of a dollar, worth of a pound, purchasing power, gold prices, GDP, history of wages, average wage
--------------------------------------------------------------------------------
Please let us know if and how this discussion has assisted you in using our calculators.
HOME
ABOUT US
CONTACT US
USER GUIDE
GLOSSARY & FAQ
Last edited: