Thursday, October 30, 2008

A Historical Day

For my birthday this year, my sister sent me a book. It is a book about things that happened in history on your birthday. I found this entry to be intersting:

October 13, 1912
To increase the population, the government of Australia announces it will pay a $25 bonus to couples who are citizens and have a baby.

This is an interesting concept. I wonder what would happen if something similar happened in America today. How much is that same $25 worth today? I did a quick Google search and came up with this. According to measuringworth.com,

Current data is only available till 2007. In 2007, $25.00 from 1912 is worth:

$551.44 using the Consumer Price Index

$409.38 using the GDP deflator

$1,155.96 using the value of consumer bundle *

$2,390.35 using the unskilled wage *

$2,913.97 using the nominal GDP per capita

$9,233.48 using the relative share of GDP

* The 2007 data for unskilled wage and consumer bundle are estimated and will be adjusted when official data become available.

I had a baby last year. I could have used that money!