contrex wrote:I cannot help thinking that the inflation factor of 583 between the 16th century and now is complete nonsense. I would love to know how it was arrived at.
When you look at the quoted webside, you can find out this very easily, namely following the link
What Were the U.K. Earnings Rate and Consumer Price Index Then? A Data Study.
contrex wrote:
You can't compare apples and oranges, except on "gee-whiz" web sites for kids.
I would agree that some university students of history are still kids, but normally I would like to add "like" to that.
I doubt, however, that the authors thought their result to be part of a "geew-whiz" website. Infact, it's used commonly in the scientific world.
contrex wrote:For example, in England in the late 19th century a housemaid might expect to get £12 per year plus accommodation.
A similar post in a hotel in 2004 would get around £12,000 per year. So that's 1,000 times (or 100,000%) wage inflation straight away.
I mean, when you compare house prices within the last few years in England ...
(Which is an as unscientific method as using only wages, especially those of house servants, especially taking the 19th century for that as reference point.)