The editor in me notes: "... make our nation[al] conversation ...".
Every so often, a visit to John Williams' "shadowstats.com" site provides a bracing slap-in-the-face reminder of how the published inflation rate serves those who profit from its manipulation. *sigh*
As to L.K. Simmons' observation: "... they were probably better off ... ", that was truly my grandfather's experience, both economically and existentially, as most of the extended family he left behind vanished in the maelstrom that was (is again) Central Europe. And, also the story of an immigrant friend, who, had he not made it to the US to found his business, would be a long-dead target of any one of the take-your-pick criminal enterprises ready to profit from his labor. Makes me wonder by what measure we might meaningfully value a human life across the generations, when the monetary metric is so unreliable.
I appreciate the editor in you! :) I didn’t know of John Williams’ site. I’ll have to look into it. Thanks. And, yes, my parents’ families came from various corners of the Russian Empire and Central Europe. Very glad they left when they did.
I believe I saw this phenomenon when I visited my hometown museum in Joliet, Illinois. I left thinking that the curators had worked hard to give the impression that the eastern and southern Europeans who worked in the steel mills and on the railroads in the 1880s through the 1920s in Joliet were exploited by their American-born employers. In fact, they were probably better off than they would have been in their native lands. Given Joliet’s excellent schools (at that time), including America’s first public junior college, their children certainly had more opportunities.
Second thought: Jane Austin’s Pride and Prejudice makes note of Mr Darcy’s “ten thousand a year!” I had to look up not only what that was in dollars, but what it would have bought in 1811 or so. As I remember, it was a pretty staggering amount of money.
Find me the numbers and signage on the Joliet exhibit. Maybe I’ll write it up!
I think Mr Darcy’s income would have been well over $1,000,000 in today’s money, when the average English laborer might have earned the equivalent of $500 to $1,000 in today’s money.
Unfortunately, I don’t get back there any more as I have no close family there now. But if I ever do, I’ll take photos. Thanks for the estimate of Darcy’s wealth.
The editor in me notes: "... make our nation[al] conversation ...".
Every so often, a visit to John Williams' "shadowstats.com" site provides a bracing slap-in-the-face reminder of how the published inflation rate serves those who profit from its manipulation. *sigh*
As to L.K. Simmons' observation: "... they were probably better off ... ", that was truly my grandfather's experience, both economically and existentially, as most of the extended family he left behind vanished in the maelstrom that was (is again) Central Europe. And, also the story of an immigrant friend, who, had he not made it to the US to found his business, would be a long-dead target of any one of the take-your-pick criminal enterprises ready to profit from his labor. Makes me wonder by what measure we might meaningfully value a human life across the generations, when the monetary metric is so unreliable.
Thank you!
I appreciate the editor in you! :) I didn’t know of John Williams’ site. I’ll have to look into it. Thanks. And, yes, my parents’ families came from various corners of the Russian Empire and Central Europe. Very glad they left when they did.
I believe I saw this phenomenon when I visited my hometown museum in Joliet, Illinois. I left thinking that the curators had worked hard to give the impression that the eastern and southern Europeans who worked in the steel mills and on the railroads in the 1880s through the 1920s in Joliet were exploited by their American-born employers. In fact, they were probably better off than they would have been in their native lands. Given Joliet’s excellent schools (at that time), including America’s first public junior college, their children certainly had more opportunities.
Second thought: Jane Austin’s Pride and Prejudice makes note of Mr Darcy’s “ten thousand a year!” I had to look up not only what that was in dollars, but what it would have bought in 1811 or so. As I remember, it was a pretty staggering amount of money.
Find me the numbers and signage on the Joliet exhibit. Maybe I’ll write it up!
I think Mr Darcy’s income would have been well over $1,000,000 in today’s money, when the average English laborer might have earned the equivalent of $500 to $1,000 in today’s money.
Unfortunately, I don’t get back there any more as I have no close family there now. But if I ever do, I’ll take photos. Thanks for the estimate of Darcy’s wealth.
Deal!
You never cease to amaze me. Only a fellow economist (not that I am any near your league)
You’re so in my league. :)