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by absherwin
2514 days ago
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Economic growth is the key to resolving the paradox you highlight of his seeming wealth then being inflation adjusted to only modestly high net worth today. Using Maddison's estimate for UK per capita GDP in 1820, suggests that the average UK resident generates more than 10.7x as much wealth now than back then. Of course, all these comparisons are fanciful and dependent on the utility one assigns to various things. In terms of the number of servants he could employ, a man of Darcy's wealth far outpaces all but the wealthiest in the first world whereas in terms of his ability to travel to Rome expeditiously, he can't measure up to a nearly broke student. |
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So viewing money as tokens of value, there was just less 'value' around full stop. So having much less of it still made you relatively extremely wealthy.