News for hackers. Stuff that matters.

A comment on Amazon Is Now Worth More Than Wal-Mart. Parent comment

Re:Amazon Is Now Worth More Than Wal-Mart by aetherson on Friday July 24, 2015 @05:40PM (#9945364)
This page (http://www.fiftiesweb.com/pop/prices-1955.htm) suggests that the average income in 1955 was $4,137, and

a house cost $22,000 (ie, 5.3x an annual income)

a loaf of bread cost $0.18 (ie, 0.004% of annual income)

Today, a median household income is $51,939 and

a median house costs $188,900 (ie, 3.63x an annual income)

a loaf of bread costs $2.26 (ie, 0.004% of annual income)

Current median income and house prices from Google, loaf of bread cost from http://www.numbeo.com/cost-of-living/country_result.jsp?coun....

All dollars nominal.

[ Parent | on HN ]
Re:Amazon Is Now Worth More Than Wal-Mart by datashovel on Friday July 24, 2015 @10:44PM (#9946341)
Perhaps it would be worth considering that in 1955 household income was generally earned by fewer household members than it is today. Probably close to 1/2. Would it be safe to assume, then, that's approximately how much less the average household bread winner earns in today's world?

EDIT: Here's a fancy chart I just found, thought it might be useful to make the point:

http://www.bls.gov/opub/ted/2000/feb/wk3/art03.htm

Also I'm not sure if it's a typo, but your comparison between "average income" in 1955 and "median household income" today seems to hurt, not help your point.

[ Parent | on HN ]
Re:Amazon Is Now Worth More Than Wal-Mart by mikeash on Friday July 24, 2015 @10:40PM (#9946335)
How about comparing median individual income, rather than median household income? That median household income in 1955 likely reflected a single individual income, whereas the median income today likely reflects two.
[ Parent | on HN ]