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Right - so I think we are in agreement: Prices will rise, but purchasing-power of the average citizen will almost certainly increase (that is what I attempted t
by as300 6y ago
Right - so I think we are in agreement: Prices will rise, but purchasing-power of the average citizen will almost certainly increase (that is what I attempted to show by the poorly-written second paragraph).
> In 1997, it took 1,768 hours of work at the median wage to purchase a Dodge Caravan. In 2018, it took just 1,396 hours of work, and the quality of the Dodge Caravan has also increased in that time!
Interesting!
- bhupy 6y agoI’d add that price rises for bread are less to do with the fact that more people have purchasing power, and more to do with the fact that bread today is of higher quality than bread in the 70s. Ditto cars, appliances, clothes, etc.
- as300 6y agoI don't think this is the case - I think inflation has caused the cost of producing bread to increase thus leading to higher prices. If anything it seems to me that bread is of lower quality these days - more GMO's and usually mass-produced using factory farming methods.