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The 17-18 century companies are of course not adjusted by inflation, they are adjusted by nominal GDP, i.e. as a fraction of the worldwide or their host country
by anovikov 9y ago
The 17-18 century companies are of course not adjusted by inflation, they are adjusted by nominal GDP, i.e. as a fraction of the worldwide or their host country GDP.
$7.9T in 1617 means about 20-30 billion UK pounds of the era, which is an absurd amount of money, much more than the total worth of all assets in the world at the time.
- adventured 9y agoThe same absurd premise that causes people to think eg Rockefeller's peak wealth adjusted should be more like $400 or $500 billion today (when in fact it would be closer to ~$30 billion using an inflation adjustment from the early 1900s).
- anovikov 9y agoBut in a way such comparison makes sense. It shows how much weight a company or a person had in the world or society of the day.