Or not.
Of course, you and and I and Donald know who makes that stuff these days. The mystery is why Donald should want to "fix" that 70% reduction in hours needed.
Or not.
Of course, you and and I and Donald know who makes that stuff these days. The mystery is why Donald should want to "fix" that 70% reduction in hours needed.
But you're ignoring both the fact that productivity would have improved here and that wages would have risen here as well.
Plus the US stuff made in the '60s would last twenty years. I'm lucky if I can get my (impolite term for east asian) made appliances to last twenty months.
in 1970 the base price of a Z/28 was $3412 and min wage was ~$1.65*40*51=$3432 and left you $20 to the good at the end of the year a 2015 Z/28 is $75000 and min wage here is $8.75 for $18000
that's $57000 to the bad...
I noticed that according to your table in 2013 the average wage would be about twenty dollars an hour. You can check out stats on the internet and that table is overstating the amount.
The other day, I heard one of these historical round-ups on the radio. It mentioned that in 1956 the minimum wage was one dollar. I looked up the present value of a 1956 dollar today on a Fed’s inflation calculator. It is $8.76, and the government is low-balling inflation; they don’t even compute the rise in food prices. That means the average worker is making only about double minimum wage today, and a large percentage even less than that, compared to 1956. Also, comparatively, minimum wage is less than it was in 1956.