[apologies to Ray, who gets this twice]
On 18/10/05, Ray Saintonge <saintonge(a)telus.net> wrote:
There are certainly any number of government
publications (and
presumably websites) from around the world that give a wide range of
economic indexes for inflation, employment, population, interest, GDP,
etc. The application of these national indexes to specific locations
would produce totally unreliable results. If no ships were bringing
coffee to Alaska in 1865 it's value there may have been considerably
higher than elsewhere, and those inhabitants may have needed to be
satisfied with a bitter blend of chicory.
Mmm-mm, chicory.
My point was not so much local economics as changes in scale -
depending on what measurement you use, the $7.2m paid to buy Alaska in
1867 could be anything from just shy of ninety million (the value
quoted in [[Alaska purchase]], which I suspect is nonsensical) to very
nearly ten billion. I'm not an economist, so I can't tell you what is
more reasonable - but encouraging the use of "worth $x in modern
money" is going to be meaningless a lot of the time, especially if we
have it generated automatically.
--
- Andrew Gray
andrew.gray(a)dunelm.org.uk