This is true, though the CPI is a fairly lousy way of adjusting for inflation, especially over long time periods, and when talking about things which aren't con

This is true, though the CPI is a fairly lousy way of adjusting for inflation, especially over long time periods, and when talking about things which aren't consumer prices. For instance, the Empire State Building cost $40 million to build. According to a CPI inflation calculator I found, that comes out to $600 million in today's money. But good luck trying to rebuild a 100+ storey skyscraper in New York City for $600 million nowadays. You'd probably spend that much just on Environmental Impact Statements and arguing with the City about whether you're likely to displace any endangered frogs. (Yes, yes, I'm exaggerating. The recent Bank of America tower, which is maybe two thirds the size of the Empire State Building, cost one billion dollars though:http://en.wikipedia.org/wiki/Bank_of_America_Tower_(New_York_City) http://en.wikipedia.org/wiki/Bank_of_America_Tower_(New_York... )