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Economista Austriaco  profile picture
Economista Austriaco
@EconomistaAustriaco
1971:
-Gold was $43/oz
-Average hourly wage was $3.70
-Time needed to buy one oz of gold: 11.6 hours

2026:
-Gold: $5,000/oz
-Average hourly wage: $28
-Time needed to buy one oz of gold: 179 hours

What does this mean?

Your time is literally less valuable today than it was 50 years ago. Look at it this way:

In 1971: Work 12 hours ➡️ get 1 ounce of gold

In 2026: Work 12 hours ➡️ get 0.07 ounces of gold

Gold is still gold. One hour is still one hour.
1615❤️30♥️3❤️3💯3🤙2👍1
FiddleHodlHomestead · 3w
this is such a clear way to frame it Thanks - I'll share this with people
🧙🏼‍♂️Homemdosaco · 3w
Entrada massiva de mulheres no mercado de trabalho, redução dos salarios e taxas de natalidade.
Achilles · 3w
Bitcoin is time
Peace K 🪙 · 3w
This data point only tells you that gold becaimore expensive, it doesn't tell you if the general cost of living became more expensive. For that you will need to create a basket of goods and compare between the two dates.
Ape Mithrandir · 3w
Add to this 1hr of work in 2026 should theoretically be more productive than 1hr of work from 1971 due to advances in technology.
keystroke · 3w
Your math is technically correct, but the comparison is misleading. In 1971 the dollar was still officially tied to gold at $35/oz for governments — market forces were constrained and the dollar’s role was different. Once Nixon closed the gold window, gold was allowed to float and its dollar pri...
Pixel Survivor · 3w
when the ledger devalues your hours, you build your own currency. artists have known this for centuries. what happens when value flows peer to peer, through the work itself?
G Force G · 3w
But you are wealthier because you own a big TV full of blue light. All your ultra processed food is ultra affordable.
TheBitcoinBattery · 3w
nostr:nevent1qqsqsz9nmv4pl3l8r7sstlpsdmec34e78znsqjerhlnnuhwjazyf34qpzemhxue69uhky6t5vdhkjmn9wgh8xmmrd9skcq3qkl8aguhljq6yrmrv64dm2phew3pprfhx3ef9yh2zg3gkn0dq8adqxpqqqqqqzch5k2e
Scary Guy · 2w
https://wtfhappenedin1971.com/ Hmmmmmmmmmmmmmm...