interesting video on Health and Wealth over 200 years

[darkoshi]

"" (Watch on YouTube)

http://www.youtube.com/watch?v=jbkSRLYSojo

I find the "wealth" axis difficult to comprehend. It seems to me there are many factors to consider (inflation, different costs of living in different places, different currencies and exchange rates). I have an idea of the difference between $400 and $40,000 where I live, but not such a clear idea of what those numbers mean in other parts of the world, or a hundred years ago.

Comments

[heron61.livejournal.com]

Such calculations are made using constant (ie inflation adjusted) dollars, so the price of adequate food is roughly constant. OTOH, people today have a whole lot more stuff than people did 200 years ago - dozens of suits of clothing instead of one or two, as well as a multitude of devices that simply didn't exist.

[darkoshi]

> OTOH, people today have a whole lot more stuff than people did 200 years ago - dozens of suits of clothing instead of one or two, as well as a multitude of devices that simply didn't exist.

That's part of what makes it difficult for me to comprehend. I understand that quality of life generally corresponds to the amount of income. But I would understand it better if there were an idea of what amount of income equals what kind of subsistence - ie. having to work X numbers of hours a week; getting enough food not to be hungry x% of the time; adequate shelter, etc. Or suppose you farm a plot of land to produce food for yourself and your family, but have little external income? Your income might be low, but you might still be getting better food and shelter than someone living in a city on the same amount of income.