Inflation Calculators

PART 1- respond to the prompt below.

Prompt: According to inflation calculators, $30,000 in 1950 would be equivalent to $322,532.37 today. So here’s the question. Would you rather live on a fixed income of $30,000 today, or in 1950?

Don't use plagiarized sources. Get Your Custom Essay on
Inflation Calculators
Just from $13/Page
Order Essay

ACME WRITERS

In your response, please consider multiple factors in making this decision, and be as detailed as possible in the reasoning behind your choice. Your mind will come to some immediate pros and cons, but as you further consider this choice, you will hopefully dig deeper into what it would really mean to transport yourself to 1950.

Also, feel free to ask and analyze questions leading up to making this decision. Often questions can be as enlightening as the answers. And as you respond, think about your response as a way to express yourself and let your classmates better understand who you are.

PART 2- respond back to 2 of your classmates response to part 1’s question

First classmates

In 1950, the economy was flourishing with low inflation rates and high wages, resulting in increased spending in the middle class. Although having a fixed income of $30,000 in 1950 would lead to a more comfortable lifestyle than having a fixed income of $30,000 today, which is barely enough money to survive, I would not want to give up what I have right now. Of course having more money means you get to live more comfortably, but it makes you greedier and it always makes you wish you could have more. Only making $30,000 today would be very stressful, especially if you have to support other people. However, there are other ways in which people can find happiness. In today’s society, with technology, there are better ways to reach out to people and ask for help. When feeling upset or discouraged, we can reach out to family, friends, and even a therapist. Today, we are allowed to be more expressive and comfortable with who we are. Living in 1950 would mean giving up a lot of what makes me happy. I do not value money enough to give up the lifestyle I have today, and therefore, I would much rather have a fixed income of $30,000 today.

ACME WRITERS

Second classmates

This prompt created a conflict in my mind. I was not sure which way to go. I’m from El Salvador and my first question was would I be a United States citizen or my nationality would still be Salvadorian? This Basically helped me to conclude that even though I’m an old school I would rather live in 2020. I know its a lot of money, however during the 1900 in El Salvador there was a movement that was starting to gain power which turned in to a Civil War. During civil war it would not matter if you had money or not. A lot of innocents die due to the conflict and I think I would probably being one of them. Also If I consider living in the United States during that time period there was a lot going on. Even though woman were enlist for world word II woman were still limited to what they could do and considered a second class.

ACME WRITERS

I would not like to live in a place were I’m treated different just because I’m a woman. I also think the way that my personality is I would probably had got myself in trouble fighting for equality. I do not think money is worth enough to change what I have, my experiences and memories. I think we learn to live with what we have and for me I’m comfortable with my income.

                                                                                                                        ACME Writers