>>512157318 (OP)Since the dollar was backed by gold at the start of this why don't we use that as the bases for inflation calulation.
Calculation is Minimum wage*40 hours worked*4weeks*12 months, then divide the sum by gold price to get triy ounces of gold, last convert the worth of those ounces into current price of gold.
current gold price: 3,411ish
Minimum wage 1950: $0.75, Gold price: $40.25, Money earned per year: $1,440, ounces earned per year: 35, Gold based inflation conversion: $119,385
Minimum wage 1960: 1, Gold price: $35.50ish, Money earned per year: $1,920, ounces earned per year: 54, Gold based inflation conversion: $184,194
Minimum wage 1970: $1.45, Gold price: $37ish, Money earned per year: $2,784, ounces earned per year: 75, Gold based inflation conversion: $255,825
WE ARE NOW DEPEGGED, PUCKER YOUR ANUS
Minimum wage 1980: $3.10, Gold price: $594.4, Money earned per year: $5,952, ounces earned per year: 10, Gold based inflation conversion: $34,110
Minimum wage 1990: $3.80, Gold price: $383.51, Money earned per year: $7,296, ounces earned per year: 19, Gold based inflation conversion: $64,809
Minimum wage 2000: $5.15, Gold price: $279.11, Money earned per year: $9,888, ounces earned per year: 35, Gold based inflation conversion: $119,385
Minimum wage 2010: $7.25, Gold price: $1,421.45, Money earned per year: $13,920, ounces earned per year: 10, Gold based inflation conversion: $34,110