3 ms·
If I'm reading this correctly: - After a long period of getting cheaper in real terms, nails have started to get more expensive (you get less nail for your mon
by CSMastermind 5y ago
If I'm reading this correctly:
- After a long period of getting cheaper in real terms, nails have started to get more expensive (you get less nail for your money in 2022 than you did in 1992).
- The main driver of this cost increase is more expensive labor and services, essentially human time is becoming more expensive to purchase.
- This rise is cost is unlikely to be felt by the average consumer because we have both on an individual level and as a nation have gotten wealthier so that increased cost is coming out of a larger pool of money.
Is that a fair summary of the current state of things?
- runeks 5y ago> - The main driver of this cost increase is more expensive labor and services, essentially human time is becoming more expensive to purchase. This is interesting, because I’d assume that the labor part of the total cost to produce a nail has fallen to practically zero nowadays. I would assume that capital (machines and factory buildings) and raw material (steel) would comprise practically the entire cost of producing a nail nowadays.