Friday, July 14, 2017

A 1967 Wrigley Field Menu Board and Inflation.

Found this HERE

It shows a menu board for concessions and game tickets at Wrigley Field in Chicago for the year 1967 (relying on information from the source).

In order to see what these prices are in today's dollars, multiply each number below by 7.43 (using the Bureau of Labor Statistics (BLS) inflation calculator)

Example: An Oscar Mayer Hot Dog cost .30 cents in 1967. If the price of that hot dog simply increased in price at the pace of overall inflation, then it would cost you $2.23 (.30 cents X 7.43) at Wrigley today.

Go to Wrigley today and you will pay about $5.50.  That is a factor increase of 18.33 from 1967, or a 2.5 times (18.33/7.43) increase over stated inflation.

There are lots of comparatives you can do with this menu board over a broad range of goods shown here.  A nice way to help students understand the effects of inflation.

Wednesday, July 12, 2017

Tax Policy and the 1%. A nice illustrative video!

Here is an excellent video from the Wall Street Journal, with a simple illustration, of the tax share of the different quintiles (20% blocks) of US taxpayers and extends it to the top 1%.

It is a nice introduction for high school students to the progressive income tax structure and a discussion on income (as opposed to "wealth") inequality.

View My Stats