What was $3,000 of today’s dollars worth in 1913?
If I had to bet, I’d say someone had a conversation with this professor about value and inflation and somewhere along the line everything got reversed. Something like “Our dollar today is only worth 5 cents compared to 1913.” Which I think is more or less true. But somehow that got translated into “$100 value from 1913 wouldn’t buy a cup of coffee today.” Absolutely backwards.
in 1969 minimum wage was $1.10 an hour,