> remember, we're talking about inelastic goods - the supplier knows people need to eat So why did a loaf of bread cost 5 cents in 1900 and 5 dollars now, even

> remember, we're talking about inelastic goods - the supplier knows people need to eat So why did a loaf of bread cost 5 cents in 1900 and 5 dollars now, even though we make more bread than ever (and with less labour too)? Couldn't the producers have "afforded to wait" until the desperate masses paid $5 per loaf, even if that were a whole week's salary? Or perhaps the nominal amount of money in a customer's pocket is relevant to the clearing price, even for bread and oil?