Historical Worth
Depending on how it is calculated, a million US dollars in 1900 is equivalent to 2006 US dollars of
- $24,766,584.77 using the Consumer price index,
- $21,224,697.05 using the GDP deflator,
- $114,128,571.43 using the unskilled wage,
- $162,813,054.25 using the nominal GDP per capita,
- $641,531,874.47 using the relative share of GDP,
Thus one would need to have a little over twenty million dollars today to have the purchasing power of a US millionaire in 1900, or more than a hundred million dollars to have the same impact on the US economy.
Read more about this topic: Millionaire
Famous quotes containing the words historical and/or worth:
“The past itself, as historical change continues to accelerate, has become the most surreal of subjects—making it possible ... to see a new beauty in what is vanishing.”
—Susan Sontag (b. 1933)
“Cultivated labor drives out brute labor. An infinite number of shrewd men, in infinite years, have arrived at certain best and shortest ways of doing, and this accumulated skill in arts, cultures, harvestings, curings, manufactures, navigations, exchanges, constitutes the worth of our world to-day.”
—Ralph Waldo Emerson (1803–1882)