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Also the industrial revolution happened, which massively drove down the cost of things. Nothing comparable happened for experiences. A restaurant today needs a

Also the industrial revolution happened, which massively drove down the cost of things. Nothing comparable happened for experiences. A restaurant today needs a similar amount of labor to make your meal as a tavern did 400 years ago. Their ingredient costs went down, but waiters and cooks do about the same amount of work, and property values haven't gone down. Meanwhile the amount of work to make a knife has been drastically slashed through technological progress.

j7ake 3y ago
There was some story once that a quality handmade tailored suit costs about the same amount of gold centuries ago compared to today. Would love to see this fact checked.
- ajb 3y ago
  Given the volatility of gold prices, you can just pick a date when that was true.
  - j7ake 3y ago
    You could, but then that would be bad analysis. A more reasonable approach is a linear model.
    - ajb 3y ago
      True. If I had to, though, I'd bet that the article didn't do that.
      - j7ake 3y ago
        Here is house to gold ratio: trend is surprisingly cyclicle https://www.longtermtrends.net/real-estate-gold-ratio/ https://www.longtermtrends.net/real-estate-gold-ratio/
johnnyanmac 3y ago
>Nothing comparable happened for experiences. it kind of did. Fast food sacrificed the experience for the core consumption. Then you have chain restaurants like Denny's that exist to give the bare minimum "experience" without throwing it all away like modern drive-thrus. Did they cut down enough to eliminate fine dining? Doesn't look like it. But I haven't done a deep dive into the ecnonomics of that. Just general wisdom that food as a business has always operated on razor thin margins.
- nradov 3y ago
  There was fast food 2000 years ago with no real "experience". Nothing has changed in that regard. https://www.bbc.com/news/world-europe-55454717 https://www.bbc.com/news/world-europe-55454717
- lukas099 3y ago
  > Fast food sacrificed the experience for the core consumption Going to fast food restaurants is a social outing for a lot of people. McDonald's is one of the best hangout spots, really.
  - antifa 3y ago
    By 2032, that era will be over. https://www.restaurantdive.com/news/mcdonalds-will-remove-self-serve-beverage-stations-by-2032/693403/ https://www.restaurantdive.com/news/mcdonalds-will-remove-se...
    - lukas099 3y ago
      I'm not 100% sure that not being able to refill your own soda will kill it, but I suppose it might.
      - antifa 3y ago
        Combine that with the loss of the dollar menu, it's dead for me. The competition is great.
pas 3y ago
environmental awareness, map of the whole world in your pocket, ebooks, 20Ah power banks, good thermal clothing, good cars skiing/snowboarding, surfing, slacklining (highlining), biking, motorcycling cinema, 4K/HDR, IMAX, streaming, youtube, single multi tabletop gaming, VR/AR/geocaching music, festivals, amazing sound quality, headphones psychedelics sex (toys, porn, acceptance) ... ordering basically any kind of AMAZING food for ridiculously cheap in most big cities.
kridsdale3 3y ago
The equivalent to the industrial revolution's impact on material goods pricing, in the domain of labor, did happen. It was slavery. Clearly, that did not persist.

j7ake 3y ago

There was some story once that a quality handmade tailored suit costs about the same amount of gold centuries ago compared to today. Would love to see this fact checked.

ajb 3y ago
Given the volatility of gold prices, you can just pick a date when that was true.
- j7ake 3y ago
  You could, but then that would be bad analysis. A more reasonable approach is a linear model.
  - ajb 3y ago
    True. If I had to, though, I'd bet that the article didn't do that.
    - j7ake 3y ago
      Here is house to gold ratio: trend is surprisingly cyclicle https://www.longtermtrends.net/real-estate-gold-ratio/ https://www.longtermtrends.net/real-estate-gold-ratio/

johnnyanmac 3y ago

>Nothing comparable happened for experiences. it kind of did. Fast food sacrificed the experience for the core consumption. Then you have chain restaurants like Denny's that exist to give the bare minimum "experience" without throwing it all away like modern drive-thrus. Did they cut down enough to eliminate fine dining? Doesn't look like it. But I haven't done a deep dive into the ecnonomics of that. Just general wisdom that food as a business has always operated on razor thin margins.

nradov 3y ago
There was fast food 2000 years ago with no real "experience". Nothing has changed in that regard. https://www.bbc.com/news/world-europe-55454717 https://www.bbc.com/news/world-europe-55454717
lukas099 3y ago
> Fast food sacrificed the experience for the core consumption Going to fast food restaurants is a social outing for a lot of people. McDonald's is one of the best hangout spots, really.
- antifa 3y ago
  By 2032, that era will be over. https://www.restaurantdive.com/news/mcdonalds-will-remove-self-serve-beverage-stations-by-2032/693403/ https://www.restaurantdive.com/news/mcdonalds-will-remove-se...
  - lukas099 3y ago
    I'm not 100% sure that not being able to refill your own soda will kill it, but I suppose it might.
    - antifa 3y ago
      Combine that with the loss of the dollar menu, it's dead for me. The competition is great.

pas 3y ago

environmental awareness, map of the whole world in your pocket, ebooks, 20Ah power banks, good thermal clothing, good cars skiing/snowboarding, surfing, slacklining (highlining), biking, motorcycling cinema, 4K/HDR, IMAX, streaming, youtube, single multi tabletop gaming, VR/AR/geocaching music, festivals, amazing sound quality, headphones psychedelics sex (toys, porn, acceptance) ... ordering basically any kind of AMAZING food for ridiculously cheap in most big cities.

kridsdale3 3y ago

The equivalent to the industrial revolution's impact on material goods pricing, in the domain of labor, did happen. It was slavery. Clearly, that did not persist.