5 ms·
Using an online inflation calculator, £50 in 1966 is equivalent to £873 today. £500 is £8,731. Wow. Still startling. I thought the next sentence was even more
by chimprich 10y ago
Using an online inflation calculator, £50 in 1966 is equivalent to £873 today. £500 is £8,731. Wow. Still startling.
I thought the next sentence was even more shocking: "A more substantial sum, it was advised, would have destroyed the working class recipients not used to large amounts of money."
- nzp 10y agoThat was a common meme about the poor repeated by the rich. It still lives, sometimes in a more sophisticated form, eg. poor people don't know how to manage spending, not buying in bulk, not taking advantage of discounts, etc., when in reality, in practice, most things cost more when you are poor because you can't afford to wait for good opportunities, and people are actually doing the best they can it their circumstances.
- sargun 10y agoAlso, if anything, I find that people who are lower-middle class tend to be better with their money than many of the "elite" -- not better as in taking advantage of unattainable economic tools, but perhaps more conservative with purchases, and such.
- Spooky23 10y agoWhy is that so shocking? In another thread today, people were arguing that there was nothing at all wrong with a bunch of investors jacking the price of a drug used to treat lead poisoning by 2700%. Aristocrats and people who worship capitalism are pretty much the same... charging $750 for a $2 pill is no different than paying 50 quid for a dead kid.