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Inflation over 30 years…

based on a breakfast I had this AM (two eggs, home fries, toast and coffee) that cost $4.31 plus tip and the corresponding identical breakfast I would get in grad school in 1980 for $1 (which also included a small OJ), inflation is running in excess of 5% over that period. Let’s try that again, based on my starting assistant professor salary in 1980 ($18,100 for the academic year) and starting assistant professor salaries today ($83,000 for the academic year), inflation is running at in excess of 5% over the last 30 years. Both of these are reasonable benchmarks in that technological advance doesn’t really come into play. Using various inflation calculators based on the CPI…

For Example but not unique

The meal should have cost $2.95 and the assistant professors should be paid about $50K.

It would be interesting if others posted similar anecdotal benchmarks if you happen to have them.

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