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A comment on I Was Wrong about the Ethics Crisis (Moshe Vardi, CACM). Parent comment

Re:I Was Wrong about the Ethics Crisis (Moshe Vardi, CACM) by grayhatter on Sunday December 29, 2024 @05:43PM (#42544133)
1963 @ $1.25 or 1957 @ $1.00

giving me $1.25 * (304.702/30.6) = $12.44 or $1 * (304.702/28.1) = $10.84

my sources: https://www.dir.ca.gov/iwc/minimumwagehistory.htm https://www.usinflationcalculator.com/inflation/consumer-pri...

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Re:I Was Wrong about the Ethics Crisis (Moshe Vardi, CACM) by PaulDavisThe1st on Sunday December 29, 2024 @05:50PM (#42544210)
https://www.bls.gov/data/inflation_calculator.htm

January 1962 $2 => Nov 2024 $21.03

Using $1.25 in Jan 1963 gives me $12.97 ...

I used $2 in 1962 because in the 2016 Republican primaries one of the candidates made a reference to their job working in a burger store using these numbers.

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Re:I Was Wrong about the Ethics Crisis (Moshe Vardi, CACM) by throwaway2037 on Monday December 30, 2024 @12:28AM (#42546732)
I just Googled for "1962 mcdonalds hourly wage". It was much less than $2. Minimum wage was 1.15, and a Federal Reserve study called "Employee Earnings in Retail Food Stores, June 1962" says about 1.70. Also, cumulative inflation from 1962 to today is about 10.5x.
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Re:I Was Wrong about the Ethics Crisis (Moshe Vardi, CACM) by PaulDavisThe1st on Monday December 30, 2024 @06:10PM (#42554655)
There is no single measure of inflation. There are multiple different ones, each with their own pros and cons and suitability for purpose. CPI is a common one, and that would put $1.15 in Jan 1962 at $12.09 in Nov 2024.
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