In a note from Bill Josephson, Founding Counsel of the Peace Corps from 1961-66, Bill wrote about Thomas M. Hill’s essay entitled The Peace Corps, A lot of bucks for very little bang? saying:
The United States Consumer Price Index by Major Group 1915-2015 All Items was 31.5 in 1965. In 2015, it was 237, an increase of 7.5 times. Another way to make the point is that what cost $31.5 in 1965 would cost $205.50 more in 2015.
From 1961 to 1966, the Peace Corps said that it held the per volunteer cost steady at $30,000 each. $30,000 times 7.5 is $225,000.
If my math is right, which it may not be, it’s no longer (at 83) one of my strong points, the Peace Corps at $56,500 a volunteer is even more of a bargain than it was in 1965.
Comments and criticisms more than welcome.