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But in the 50s you weren't buying a new iPhone every few years, or a desktop/laptop computer or a tablet, or multiple TVs, or a cell phone contract, or an Inter
by freehunter 9y ago
But in the 50s you weren't buying a new iPhone every few years, or a desktop/laptop computer or a tablet, or multiple TVs, or a cell phone contract, or an Internet contract, or cable TV, or Netflix.
As our purchasing power has decreased and inflation has increased, we've also invented a lot more expensive stuff to spend our fewer and fewer dollars on.
- ptaipale 9y agoPurchasing power for what? As said, real estate prices have gone up. But in early 1970's, Americans used 20 % of their inćome on food. Now it's somewhere around 6-7 %. So, for this most basic of commodities, the purchasing power has increased substantially.
- nradov 9y agoIn the 1950s you were buying a new car every few years because they fell to pieces.