The problem with the discussion that is conventiently overlooked:
there is a lot available today that could not be purchased in the past. What did smartphones, Tesla stock, NFTs, and cable subscriptions come from? Did they just magically appear.
people claim to hate inflation yet get upset when the value of their homes, stocks, and bonds go down.
as stated in another comment, the US household is up 130x compared to 1915. This means for less hours work (since the average workweek declines) we are getting more in terms of currency.
Pricing numbers do not count all the stuff is for free. Look at this list:
- long distance communicationa
- music
- video
- advertising
- encyclopedia
- information
- gaming/entertainment
Just consider what a weekly AMA would have cost Khal 35 years ago.
The standard of living for much of the world keeps increasing yet people overlook it.
Posted Using LeoFinance Beta
Thanks for this it fills the gaps of a lot of the stuff I missed.