Mike the Psych's Blog

What if psychologists ruled the world? In real life?

Winter Walks (1) – Letna

Great blog bringing back happy memories of my trips to Czech Republic and Prague in particular

PragueByKaty

Prague is lovely city also in winter, when the number of tourists slows down (but not that much as expected). It can be freezing but when the sun shines, its nice and almost warm for nice walk. Find some pictures from the winter walk on Letná hill and area, which rises above the river and the Old Town to combine walk in the nature with beautiful views with wandering through the residential area with hipster cafes, pubs, or design places.

Buildings built on bastions of Prague walls

I started my walk at Hradčanská tram stop and walked by the former ramparts around the Prime Minister villa for the views to the river from Hanavský Pavilion.

Hanavský Pavilion was built in 1891 for the Jubilee World Fair, it is cast-iron structure built as a representation pavilion (commercial) for Iron and Steel Company.

The view from here is really beautiful :-),

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1973

red_arrow_down_crash_1600_wht_2751The CMI recently published some data from 1973 to celebrate 40 years of pay surveys. It reminded me of how bad it was  – and we couldn’t blame the bankers in those days.

In 1973

  • Inflation hit double figures for the first time
  • Wage rises were limited by ministerial order to £2.25
  • We worked 24% longer hours than we did in 2011
  • Motorway speed limits were cut to 50mph
  • The Trafalgar Square Christmas tree lights had to be turned off
  • A pint of beer was 13p
  • Petrol ration books were issued by the British government to combat petrol shortages during the 1973 Oil Crisis.

The Organisation of Petroleum Producing Countries (OPEC) imposed an oil embargo on Western countries which had supported Israel during the Arab-Israeli Yom Kippur war (which began in October 1973). Oil prices quadrupled, and supplies were restricted, leading to the imposition of petrol rationing in Britain. I had a ration book but they were never used.

The Sun newspaper, writing during the recession in 2010, printed a piece about the 1973 Winter of discontent. Concerned about hardship during the festive season, Tory Prime Minister Ted Heath warned us to should expect a difficult festive season. In an emergency national broadcast on December 13 he said: “We shall have a harder Christmas than we have known since the war.” 

And then we had the 3-day week! One of several measures introduced in the United Kingdom by the Conservative Government (1970–1974) to conserve electricity, the production of which was severely limited due to industrial action by coal miners. The effect was that from 1 January until 7 March 1974 commercial users of electricity were limited to three specified consecutive days’ consumption each week and prohibited from working longer hours on those days.

Services deemed essential (e.g. hospitals, supermarkets and newspapers) were exempt. Television companies were required to cease broadcasting at 10.30pm during the crisis to conserve electricity.

This was a miserable time as it was Winter. I remember feeding our 1-tyear old baby by candlelight in the kitchen and buying a gas heater to keep warm.

And what about pay for managers?

In 1973, the median yearly pay packet for a Chief executive was £10,600. Based on the fact that £1.00 then is worth £15.70 today, that’s the equivalent of a salary of £166,000.

A middle manager earned £3,855, which would be equivalent to £60,500 today. I earned about £2,000 in my professional job, worth about £31,000 today, with a £3,000 mortgage.

The CMI’s latest survey shows that the basic salary for today’s Chief Exec is £215,879 – much better than the average. For middle managers the survey results show the actual median salary of £43,456, which means modern day managers are faring worse than expected and the pay gap between the top layers of management and those further down has worsened over the decades.