Question Details	Asked By	Asked On
Earnings in years past	denberg	10/10/05
I have a friend who's 85 now and he told me that in 1953 he was paid £50 for doing a job 1955 £100 1956 £75 1957 £20 (These amounts are all UK pounds/sterling). Can you convert each of these into today's money for me? Just out of interest, I want to know how much he'd be paid today. Many thanks
Clarification/Follow-up by denberg on 10/16/05 3:56 am: Thanks but can you clarify: What do you mean by: "I am guessing it would be .05" Thanks Clarification/Follow-up by kkemper on 10/17/05 8:45 am: there are 2 ways to figure out what you want to know. what he would have been paid had he been paid in 2005 wages........or if u tell us the missing components, you could get more data. he did not work very much. were those annual incomes or daily or weekly or monthly or what? Clarification/Follow-up by denberg on 10/17/05 9:34 am: He is an author who was paid those amounts in the years I have listed for books he wrote in those years. Clarification/Follow-up by denberg on 10/19/05 4:15 am: He wrote 4 novels - I am just intrigued to know how much he would be paid today, that's all. Thanks again.
Answered By		Answered On
kkemper		10/15/05
there is sofware to do this but ask a professor at any university who teaches economics. in the UK of course. today, I am guessing it would be .05 UNLESS his 100, 75 and 20 were not consistent incomes but simply sums out of nowhere. most people's incomes increase as from 53 to 55 per your example if he had to live on the money you showed me he would need family members to support him.

Additional Options and ratings are only visible when you login!