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There probably are a mix of factors. A big one that I see is that consumers moved away from "pride in ownership". Modern consumer culture weighs absolute price
by user3939382 3y ago
There probably are a mix of factors. A big one that I see is that consumers moved away from "pride in ownership". Modern consumer culture weighs absolute price more than price per quality, so you get products that reflect that priority. Real inflation is also about double the rate of the official numbers IMHO, so the resources to invest in quality aren't as available.
- ffhhttt 3y ago> Real inflation is also about double the rate of the official numbers IMHO, It’s funny that one reason CPI hasn’t increased as fast as nominal prices in some cases is because it also factors in the quality of goods. e.g. modern cars are more expensive but also significantly better (they both have more features and last longer) I think this applies to a whole bunch of other products too.. I don’t know how accurate it is though, guess it depends on user preferences.