A Modest Proposal on Unemployment Reporting
Washington Post Death Spiral Watch (Joe Stephens Edition)

The Singularity Is in Our Past...

Will McLean writes:

A Commonplace Book: Buying Power of 14th Century Money: In the second half of the 14th century, a pound sterling would:

  • Support the lifestyle of a single peasant laborer for half a year, or that of a knight for a week. Or buy:
  • Three changes of clothing for a teenage page (underclothes not included) or
  • Twelve pounds of sugar or
  • A carthorse or
  • Two cows or
  • An inexpensive bible or ten ordinary books or
  • Rent a craftsman’s townhouse for a year or
  • Hire a servant for six months

Think of a world in which a pound of sugar costs two weeks' wages...