Then and Now: 1955 to 2010

Then
and
Now

1955 to 2010
Or
How in the world did college get so expensive?
RussellWhite.com © 2012

According to the US Census Bureau
the average salary in 1955 was $4,418.


The national average wage
for 2010 was $41,674.

That is an
increase
of 843%
over
55 years.


In 1955 a
week of
groceries for
a family of
four cost
$10.


In 2010 it cost $150.

An
increase
of
1400%


According to AAA the average
miles driven a year in 1955
was 10,000 at a operating cost
of 9 cents per mile. ($900/yr)


According to AAA the average
miles driven a year in 2010
was 15,000 at a operating cost
of 57.3 cents per mile.
($8,588/yr)

RussellWhite.com © 2012 An increase of 854%

The average price for a vehicle
in 1955 was roughly $2000.


The average price for a
mid-sized passenger vehicle
in 2010 was $29,817.

An
increase
of
1,390%


In 1955, gasoline was
RussellWhite.com © 2012 27 cents a gallon.

In 2010 average price for a
gallon of fuel was $3.23.

An
increase
of
1,096%


In 1955 a
pack of
cigarettes
was 20
cents a
pack.


In 2010 a pack of cigarettes
cost $5 per pack.

An increase of 2,400%

In 1955 the minimum wage
was 75 cents an hour.


In 2010 the
minimum
wage was
$8.25 an
hour.

An increase
of 1,000%

In 1955 it costs
3 cents to mail a letter.


In 2010 it
cost 44
cents.



In 1955 a 19” screen color TV
console cost $1,000.


In 2010 a 42” LED, HDTV
cost $500.


To fly from Atlanta to New York
in 1955 would cost around
$100 for coach.


In 2010 to fly from Atlanta to
New York cost roughly $300.

A 200%
increase

The average new home price in
1955 was $15,200.


In 1955 tuition and fees to attend one
year at a public college was $198.


In 2010 tuition and fees to attend one
year at a public college was $10,800.


In 1955,
Baseball MVP
Mickey Mantle
had a $33,000
salary.

Roughly seven
times the
national average
wage.

In 2011
Albert
Pujols
signed a
contract for
$240
million for Roughly 577 times the
national average wage.
10 years.
A whopping increase
RussellWhite.com © 2012 over 1955 of ….

72,627%
If gasoline increased this much since
1955 we’d be paying $196/gal.

Cigarettes would be $145.20 per pack.

And if minimum wage increased this
much it would be $544.70 an hour.

It begs the question:

Why does the
America public
willingly pay for such
disparity in college
tuition and athlete
salaries, while we
scream at a 20
cents/gal increase at
the pump?


In 1955 television reception was free,
unemployment was 5%. The top hit of
the year was Rock Around the Clock,
and the Academy recipient for best
picture was On the Waterfront.

Were we better off

Then or Now?

803-831-7600
Russell@RussellWhite.com

RussellWhite.com

Russell J. White, president of Pinnacle
Solutions, is one of America’s leading
authorities on business in the new
economy. He is an author, consultant,
international speaker, and business
expert on leadership and strategies for
success in the new economy.

Then and Now: 1955 to 2010

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Then and Now: 1955 to 2010