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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 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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