Using the Consumer Price Index, $40 in 1939 is $473 in 2000 dollars.
Back in the 70s, one of the buisness magazines ran a piece where an
economist estimated the current value of the '$24' that was paid to the
Indians for Manhatten Island if it had been sent back to Europe and kept
invested over all those years at prevailing interest rates. The
calculated current value was of the same magnitude as the estimated
current value of all the real estate comprising Manhatten. The Indians
got a fair deal from the perspective of present value analysis.
Moose
Someone mentioned in the neighborhood of US $3000. And it was closed
out of stock at Willoughby's photo store in 1939 for -- what? -- $39.95?
Aargh!
What does $39.95 in 1939 convert to in 2002 $s ?
Wayne Harridge
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