Saturday, September 13, 2014

Measuring Worth

Have you ever come across an old family will or an old land record that states the value of an estate and you wondered how much it would be worth in today’s dollars? There are many websites on the internet that will convert an historical amount into today’s value, but none do it better than Measuring Worth.
Run by two academics with a deep knowledge of alternate ways to compare the historic worth of things, the website provides several ways to convert an historic price into a modern price.
It also converts across currencies just in case you want to know how much UK £10 in 1810 is in today’s dollars (answer $838 using CPI inflation data). The currencies covered by the website include US dollars, UK pound and the Australian dollar. The dataset goes back into the 1700s.

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