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Joshua Kennon
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Daily Archives: January 8, 2011

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$500 Bill

A Look at Inflation in the United States and Great Britain Since 1971

EconomicsBy Joshua KennonJanuary 8, 20113 Comments

A $1.00 bill in 1971 has the purchasing power of only 18¢ today. A £1 bill in Great Britain has the purchasing power of only £0.09. That is, if you put money in a coffee can in 1971 and buried it in the back yard, you’ve lost 82% of your purchasing power in the United…

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