That is a TON of money. I have no idea how it would be possible to come up with that amount to pay off a gambling debt.
Great movie and I think it holds up better then a lot of other movies from the early 70's.
I told my wife it was probably four or five times as much now. Pretty good guess! Thanks for the info and I agree with your take.
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See a list of my favourite films here: http://www.flickchart.com/slackerinc
Nah, it's not that much.
One has to calculate things in relation 'money worth' back then. This is what the McDonald-index is for ...
How much did a BigMac cost in 1974? vs. how much is it today.
And then use this relation to find out about the price for 44 grands today.
James Caan's character says he makes $1,500 a month with his teacher salary, which is more than the 12 grand teachers made in 1974-75. Mind you, minimum wage was 2 bucks back in ’74. That puts the $44k in a better perspective. It would’ve taken him 2 and a half years to save up that money (not taking into account expenses and cost of living) + any interest a bookie would put it on it.
The dollar has depreciated a lot in value over the decades. Reaganomics, Japanization, the Great Recession, etc. But he doesn’t owe 4 times as much. Teachers’ salaries have increased as well and inflation mainly hurts the person who is owed. It’s like $50k or around there now for a college teacher. So, you know, it would only take 4 years, not 4 times as long. No big deal, right? 😞
(Econ nerd, not autistic, I promise.)
I agree with your take but one thing to keep in mind is basically 0% wage growth since that time. It is a very real problem that affects inflation and is the main reason why inflation bothers people. If wages kept up with inflation they wouldn't need to make these comparisons at all. But then again, all economics is a human psychological construct anyway.
shareIf you're an "econ nerd," then you know very little about the subject, not to mention that your math skills stink.
$1,500/month is $18K....which would not give you $44K in two years. Let me also mention that Uncle Sam deducts taxes from that money before you get it. And....yeah....there is are the pesky little details about having to support yourself (rent, utilities, food and all the etceteras.)
He was a college professor....not a teacher. Professors make more than teachers. The average associate professor make's significantly more than $50K. In the state I live in, it's public record and you can look it up....an associate professor makes about $80K per year. In other words, about 4.4 times what they made in nominal dollars back in 1974.....based on the $18K figure from the film.
The OP is spot on (give or take a buck or so) with his calculation.
Signed.....
Not Just An Econ Nerd, But An Actual Econ Grad.
The bad news is you have houseguests. There is no good news.
Give or take a couple of grand, that is the amount the equivalent character ends up owing in the remake.
Despite that nice touch, the remake is a piece of garbage.
The $44K was equal to 2 1/2 years of his salary. He made $18,000 a year (tells Vic Taybeck he makes $1500 a month). It was a decent wage back then, especially for a young professor just starting out. My guess was he he had a PhD., but a newly acquired one at that. So, although $44K doesn't seem like that much today, it was A LOT back in 1973 (year filmed; not released).
Back in 1977, young college grads with bachelors working for I.B.M. in sales were making $22,000.
$44k was certainly not a piddling amount 40 years ago.
It's that man again!!
That's 6 El Dorados...it ain't just numbers, Axel.
shareIt's up to $233,460.61. I hate the main character. He's a gambling addict which I never understood; how can you be addicted to losing so much money! And it makes him evil. It makes no sense though that he's a college professor also. I mean I'm sure there are professors who gamble, but this is so over the top, I can't see how he can have such a highly respected position. I guess I just don't understand the "thrill".
share