Peter
I agree with Jo. If you read Munby's book, it makes it clear that there is
not a straight ratio - it depends on the varying availability of different
goods and services as well. The social habits and values are totally
different now. You could not, say, quote a value for claret in Australia in
1760 - you would be overlooking reality.
And Banks had purposes of his own - I'll bet few others would have been
prepared to pay £100.00 to go to Oz then. It is not a straight market
economy question at all
Are you sure that £10,000 is not a figure already updated to the present?
It sounds to me as if Banks was actually financing the trip full stop if he
paid £10,000 of 1768 money.
Nick Hudd
%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
|