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God Bless Us, (lemmy.world)

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[-] ASeriesOfPoorChoices@lemmy.world 161 points 1 year ago* (last edited 1 year ago)

1 pound = 20 shillings.

1 GBP in 1843 is worth £104.72 now (https://www.bankofengland.co.uk/monetary-policy/inflation/inflation-calculator)

104.72/20*15=78.54

£78.54 = $99.55USD

99.55/40 (hrs per week) = $2.49USD per hour

Or less, given he likely worked more than 40 hours per week.

But I think we can say that $2.50/hr is a very Scrooge-like wage, and that OP has no fucking clue how to do basic math.

EDIT:

However, from https://www.measuringworth.com/calculators/ukcompare/relativevalue.php

1GBP in 1843:

in 1843 there are four choices. In 2021 the relative:

  • real price of that commodity is £104.40
  • labour value of that commodity is £862.70
  • income value of that commodity is £1,409.00
  • economic share of that commodity is £4,601.00
[-] Mango@lemmy.world 25 points 1 year ago
[-] TokenBoomer@lemmy.world 1 points 1 year ago
[-] Mango@lemmy.world 1 points 1 year ago

I 100% believe you. This definitely looks like math.

[-] funkless_eck@sh.itjust.works 8 points 1 year ago

he likely worked more than 40 hours a week.

a quick Google tells me it was 52 hours / week, which was likely 6 day weeks - so roughly 8-9 hours a day mon thru Saturday

Interestingly, the numbers I found said that Americans at the time worked on average 70 hours / week.

[-] DavidDoesLemmy@aussie.zone 5 points 1 year ago

How did you jump from 78.54 to 64.13?

Oops! Thanks for that. Initially I used 1841 as the year, and later found out it should have been 1843. For some reason there was a huge change in value between 1841 and 1843. That 64.13 was just a leftover I forgot to replace. Fixed!

[-] sneezycat@sopuli.xyz 3 points 1 year ago

How do you go from 78.54 (modern pounds equivalent to 15 shillings) to 64.1325? I don't understand that step.

Oops! Thanks for that. Initially I used 1841 as the year, and later found out it should have been 1843. For some reason there was a huge change in value between 1841 and 1843. That 64.13 was just a leftover I forgot to replace. Fixed!

this post was submitted on 24 Dec 2023
826 points (91.1% liked)

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