100 years ago, $20.67 = 1 one ounce of gold by law. Today $1103 = 1 ounce of gold.
So $500 today is worth $9.37 in 1910.
And $500 today had an approximate value of $9 all the way back to 1792. Then in 1913, the Federal Reserve came along...
I used the first inflation calculator I could find and it only went to 2009, which in itself was questionable.
Just for fun I wanted to find out how many bowls of Total® cereal does it take to equal the cost of one $499 iPad.
Total® came out in 1961 Cheerios® was 25¢ in 1961 so I'll use that price. A serving size is 30g. Assuming the serving size hasn't increased since then a 10.6oz box of Total® is 9 bowls per box or 03¢ a bowl. So it would take 16,633 bowls of Total® in 1961 to equal one iPad today. Now do you want milk with that, too?
When I bought a Quadra 700 in 1990 it cost 4400GBPs. It took me several years to pay that off as a student. Today I make 100x my student income and I kvetch about paying $1500 for a refurb MBP 15". How priorities and prices change.
BTW - at the current (1990) exchange rate that was over $8500 which makes the inflation adjusted price about $14K+ - OMFG! Over 3 years, I probably made a bit more than that using it for paid ventures (though most income went on beer etc., not repayments ;-)
It's even more amazing that you got a quadra 700 in 1990 since they didn't come out for nearly 2 more years.
The iPad is overpriced for what one gets, it's all has to do with Apple using high priced, low capacity SSD storage.
The better value is a MacBook Pro.
Wow, remember when everyone thought it was going to be around $1,000 and people were claiming it wouldn't be a good value at $2,000?
So Steve surprises us all and produces the product at a starting cost of $500. Almost everyone is amazed. *Almost* everyone.
Amazing that people are griping about an entry level price of $500. It just goes to show you that people would still be bitching if Apple had priced it at $99.
Comments
100 years ago, $20.67 = 1 one ounce of gold by law. Today $1103 = 1 ounce of gold.
So $500 today is worth $9.37 in 1910.
And $500 today had an approximate value of $9 all the way back to 1792. Then in 1913, the Federal Reserve came along...
I used the first inflation calculator I could find and it only went to 2009, which in itself was questionable.
Just for fun I wanted to find out how many bowls of Total® cereal does it take to equal the cost of one $499 iPad.
Total® came out in 1961 Cheerios® was 25¢ in 1961 so I'll use that price. A serving size is 30g. Assuming the serving size hasn't increased since then a 10.6oz box of Total® is 9 bowls per box or 03¢ a bowl. So it would take 16,633 bowls of Total® in 1961 to equal one iPad today. Now do you want milk with that, too?
When I bought a Quadra 700 in 1990 it cost 4400GBPs. It took me several years to pay that off as a student. Today I make 100x my student income and I kvetch about paying $1500 for a refurb MBP 15". How priorities and prices change.
BTW - at the current (1990) exchange rate that was over $8500 which makes the inflation adjusted price about $14K+ - OMFG! Over 3 years, I probably made a bit more than that using it for paid ventures (though most income went on beer etc., not repayments ;-)
It's even more amazing that you got a quadra 700 in 1990 since they didn't come out for nearly 2 more years.
The iPad is overpriced for what one gets, it's all has to do with Apple using high priced, low capacity SSD storage.
The better value is a MacBook Pro.
Wow, remember when everyone thought it was going to be around $1,000 and people were claiming it wouldn't be a good value at $2,000?
So Steve surprises us all and produces the product at a starting cost of $500. Almost everyone is amazed. *Almost* everyone.
Amazing that people are griping about an entry level price of $500. It just goes to show you that people would still be bitching if Apple had priced it at $99.
Right? I remember getting a cheap bag and notebook with my school's name on it and thinking that was a treat
wait, a non-computer notebook? What's that?