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"Time for your annual reminder that, according to A Christmas Carol, Bob Cratchit makes 15 shillings a week. Adjusted for inflation, that's $530.27/wk, $27,574/yr, or $13.50/hr.
"Most Americans on minimum wage earn less than a Dickensian allegory for destitution."
-- Chris Thompson (DrChrisThompson), 2021-12-17
[Note folks in the replies arguing for using different conversions that significantly increase or decrease Cratchit's salary in modern-equivalent money -- as well as questioning the 40 hours/week assumption built into that hourly rate calculation.]
(no subject)
RATE of PAY
What it is:
COST of NECESSITIES
vs.
RATE of PAY
The only way to have real perspective is the local economic conditions while keeping in mind the large picture.
Keep in mind:
Fun Fact: Figures don't lie, but liars figure.
(no subject)
Er ... that's the whole point of using inflation-converter calculations instead of just using the numbers written in the story. So yeah, that's already taken into account, and was kinda the whole point. Though in the replies to the tweet, you see people arguing why one calculation is more pertinent than another for assessing equivalent buying power, sinnce cost of goods and cost of housing don't change in sync all the time, median income levels may or may not be a relevant additional extra factor, etc.