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In 1650, the relative value of £800,000.00 from 2017 ranges from £18 17s 7d to £6,183 0s 0d.
A simple Purchasing Power Calculator would say the relative value is £6,105 0s 0d. This answer is obtained by multiplying £800,000 0s 0d by the percentage increase in the RPI from 2017 to 1650.
This may not be the best answer.
The best measure of the relative
value over time depends on if you are interested in comparing the
cost or value of a
Commodity ,
Income or Wealth , or a
Project . For more discussion on how to pick the best measure, consult the Tutorials.
If you want to compare the value of a £800,000.00
Commodity
in 2017 there are four choices. In 1650 the relative:
real price
of that commodity is £6,105 0s 0d
labour value
of that commodity is
£364 10s 0d
income value
of that commodity is £185 8s 0d
economic share of that commodity is £18 17s 7d
If you want to compare the value of a £800,000.00
Income or Wealth
, in 2017 there are four choices. In 1650 the relative:
real wage or real wealth
value of that income or wealth is £6,105 0s 0d
labour earnings of that income or wealth is
£364 10s 0d
relative income
value of that income or wealth is £185 8s 0d
relative output
value of that income or wealth is £18 17s 7d
If you want to compare the value of a £800,000.00
Project
in 2017 there are three choices. In 1650 the relative:
real cost
of that project is £6,183 0s 0d
labour cost
of that project is £364 10s 0d
economic cost
of that project is £18 17s 7d
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Citation
"Five Ways to Compute the Relative Value of a UK Pound Amount, 1270 to Present," MeasuringWorth,
.
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