That may sound pretty crazy, but that’s roughly what the minimum wage would be today if it had kept pace with productivity growth since its value peaked in 1968. And, having the minimum wage track productivity growth is not a crazy idea. The national minimum wage did in fact keep pace with productivity growth for the first 30 years after a national minimum wage first came into existence in 1938.

Poster Comment:

We had to start importing raw materials in 1950 when our population went past 150 million. That is why our wages have declined in real terms.

Another way of saying this would be to ask your boss to pay you the minimum wage of 1963 which was $1.25 an hour in silver. 5 silver quarters per hour or $50 in face value of silver quarters for a 40 hour week. Paper shorts have driven down the price of silver temporarily so $50 in silver coins will cost you a mere $1,004.00. Pretty good wage for flipping burgers.