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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.
9
FiddleHodlHomestead · 15h
this is such a clear way to frame it Thanks - I'll share this with people
Achilles · 15h
Bitcoin is time
Peace K 🪙 · 14h
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 · 13h
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 · 12h
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...
G Force G · 6h
But you are wealthier because you own a big TV full of blue light. All your ultra processed food is ultra affordable.