Because certain things are getting more expensive, but not more valuable. A haircut in the bay area is much more expensive than one in Austin or Orlando or Phil

Because certain things are getting more expensive, but not more valuable. A haircut in the bay area is much more expensive than one in Austin or Orlando or Philadelphia, but it's the same haircut. Other things have gotten more expensive but more valuable. For example a car today is more expensive than a car in 1960, but it's got ton more comfort and safety features.