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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

Stooooop! You're ruining it!

[-] 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!

In the 1840s, 15 British shillings would have been equivalent to approximately $3.63 in U.S. dollars at the time. Adjusting for inflation, this amount is equivalent to about $123.24 in today's U.S. dollars.

If someone earned an amount equivalent to $123.24 per week in today's dollars, the daily rate for this income would be approximately $17.61 in today's U.S. dollars.

[-] ASeriesOfPoorChoices@lemmy.world 37 points 1 year ago* (last edited 1 year ago)

Your math is weird. Why are you talking about daily rate, when OP is talking about weekly and hourly?

Where did you get your inflation conversion from? I got my numbers from the Bank of England, and it's about $100usd, not $123usd. 25% margin of error is way off.

$2.49usd per hour is the right answer.

[-] MotoAsh@lemmy.world 47 points 1 year ago

"Butbut everyone has a fridge!"

Yea, so does every landfill. Just because we can produce a shitload of things does not magically mean certain people are incapable of taking way too big of a cut.

[-] gedaliyah@lemmy.world 39 points 1 year ago

If Cratchit worked 40 hours a week, then his weekly wage translates to 16.18 pounds per hour, or $20.49/hour.

If Cratchit worked 65 hours a week, which is more likely considering he was overworked during a time in which workers were expected to work more than 60 hours a week, then his weekly wage translates to 9.95 pounds hour, or $12.60/hour.

Source

[-] satanmat@lemmy.world 11 points 1 year ago

Thank you. Nuance matters

Thank you for the source. Their context helps.

I’d love to see a third option. But I’m lazy and dumb. What was that equivalent in gold ?

[-] Nobody@lemmy.world 35 points 1 year ago

Why does the working class, the largest class, not simply eat the smaller class?

I genuinely don't believe this math

[-] Godric@lemmy.world 17 points 1 year ago

Smart, OP has a reputation for posting memes that are wildly incorrect/dishonest.

[-] JayJay@lemmy.world 26 points 1 year ago

I'm guessing that assumes 40 hour work weeks which i doubt he worked only 40 hrs a week.

[-] MonsiuerPatEBrown@reddthat.com 12 points 1 year ago* (last edited 1 year ago)

I don't need Charles Dickens to tell me that the US federal minimum wage has gone up $7.00 in 80 years, and that is dysfunctional.

But what the fuck is or was a guinea ?

[-] skooks@lemmy.world 3 points 1 year ago

Apparently it was worth 1 pound and 1 shilling

[-] x4740N@lemmy.world 1 points 1 year ago

Currency conversion ?

I don't think scrooge lived in the (un-)united states of america

[-] lseif@sopuli.xyz 1 points 1 year ago

yeah but: he paid them more and now burgers are more expensive. so...

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

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