Saw this breathless statement over at Insty’s:
Big fat hairy deal. Only 327x? Going from memory, let’s look at some relative increases* in the costs of goods and services since the early 1940s, shall we?
Groceries: 353x
Gasoline: 417x
Electricity (when it’s not browning out): 330x
Apartment rental: 472x
Housing cost per sq.ft: 488x
Bourbon whiskey: 270x (congratulations, Jim Beam; yours is the only commodity that’s still more-or-less affordable)
Large automobiles: 634x
College tuition: 729x
In fact, our mythical “AI researcher”, even at his current earning level, still won’t be able to buy a car or a house; rent an apartment; pay his utility bills; be able to drive cross-country without taking his bank manager along; or pay for his kids’ college tuition.
Yet somehow Oppie managed to do all that, and more, on his pitiful Manhattan Project salary.
*Okay, I made all those numbers up, but I bet they aren’t far off the mark. Hat tip:
Posted on the wrong story – sorry.
I had some railroad union pay schedules from the 1950’s if I remember correctly. It was based on what was called a “Basic Day”, equal to 100 miles or 8 hours. It was only $6.00/day, or up to $12.00, depending on the craft. You didn’t get overtime until you ran out your assigned miles. If your job was assigned 150 miles end to end, you didn’t start overtime until after 12 hours on duty. They often worked 15:55 to avoid any rest penalties.
I don’t know why FDR didn’t just print more money during the war. It’s worked really well since then.
They forgot to mention what the differential is for inflation.
why are people obsessed with the pay check of others?
I’ve wondered that for a long time and have come to the conclusion, based on various other things too, for the past 40 years people have been programmed daily to be envious of others.
(I personally don’t care what others earn, and stay focused on improving my own earnings)
While people become more envious of others it serves as a major distraction to them from improving themselves. A variation of the “crabs in a bucket” thing.