Posted by Rick Denney on July 17, 2002 at 13:48:11:
In Reply to: Re: Re: Re: Re: Are Yorks a good investment? posted by Paul Scott on July 16, 2002 at 07:43:15:
Actually, 1938 was MUCH better than 1933. For years, 1937 was considered the "typical" year, and price indexes were normalized to that year, much as they were to 1967 in the numbers that I related. The thinking was that 1937 represented the first post-Depression "normal" year.
But for those who were working, prices were incredibly low in the early 30's. That's why I chose 1923--it's more like current times in terms of the general perception of prosperity.
Rick "not trying to create a Unified Macroeconomic Theory based on the price of tubas, but found it curious all the same" Denney