Corrected entry: When Andy and Red are discussing the cost of the rock hammer, Andy says between $6-7, and Red closes the deal at $10. In reality, $10 in 1947 would be the equivalent of $130 in today's money (2022).
Matdan97
24th Nov 2022
The Shawshank Redemption (1994)
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Correction: Andy was a successful accountant. He could have access to his money, which was likely substantial.
MovieFan612 ★
I'm suggesting that Andy (Robbins) and Red (Freeman) got the pricing and value wrong. The value of the American dollar was different compared to the year of the film's production and the present year. Example: one American Dollar ($1) in 1947, the year of the scene, would equal to $6.65 in 1994, the year of the film. All due to inflation.
Matdan97
The price for the rock hammer is deliberately "inflated" because it costs "extra" to acquire contraband in a prison. The person agreeing to "sneak" a prohibited item into prison is taking a risk of getting caught and therefore is the one who gets to set the price - take it or leave it! Realizing he was seeking contraband and would have "to pay" to get it, Andy suggested $6-7; Red wanted - and got - more. The relative value of $1 in 1947 versus the equivalent value in 1994 is not relevant. Hypothetically, Red - realizing that Andy had the means to pay even more - could have requested much more than $10.
KeyZOid
Using a different example, today's price for a pack of cigarettes might be $8.00. Cigarettes may no longer be permitted in a prison, thereby classifying cigarettes as "contraband." Inmate A might be seeking to buy a pack of cigarettes and offers $10 to anyone providing the same. Inmate B tells Inmate A that he can get him a pack of cigarettes, but it will cost him $20. If Inmate A says $20 is too much, he simply will not be able to buy the cigarettes.
KeyZOid
You're misunderstanding inflation. The value of the dollar can be different then the value of a product. For example, a McDonald's hamburger cost $0.15 in 1947, which is $2.00 in today's money, even though a McDonald's hamburger today is only $1.49 (which is to say your "$130" is only "$96.85"). Plus, you can find cheap rock hammers or rock hammers that go for $100 or more.
Bishop73
I agree that the price of a particular product may not be related to (or proportionate with) inflation rates, but I think "Matdan97" made a decent analogy. What "Matdan97" failed to realise is that the rock hammer was contraband, which changes (greatly increases) the "asking price."
KeyZOid