Posted on 06/26/2024 10:24:35 AM PDT by SeekAndFind
Despite what feels like the constantly rising costs of modern life, the prices of some essential commodities such as gas and eggs have actually remained relatively stable compared to dollar values and wages in the past. Other items, meanwhile, have actually become much cheaper over time, even when accounting for inflation. Innovations in technology, increased competition, and improvements in manufacturing and logistics are most often the reason for these surprising price drops. Here are seven everyday items that are much cheaper now than they were in decades past.
Those savings were passed onto consumers, and as fast-fashion brands proliferated, Americans had more options at lower prices than ever before. According to data from the U.S. Bureau of Labor Statistics, on average, a woman’s dress cost $50 in 1960. Adjusted for inflation, that’s about $530 today — not unheard of, but far above prices at the most popular clothing retailers today.
The price of the tropical fruit has hovered between 50 and 60 cents per pound for the last 20 years — a significant drop from its early cost. Most bananas sold in American stores are imported from faraway places including Guatemala and Honduras and require cooling containers for shipping.
Despite these barriers, labor costs remain low, and banana importers sell only one variety, the Cavendish, meaning the fruit can be harvested in abundant volumes and ripen at the same time. That helps keep production and shipping efficient, and the cost to consumers low.
By comparison, a 65-inch, high-definition smart TV might set you back less than $500 today, and while that’s neither the high nor low end of the current television market, it’s a good indicator that TVs are much more affordable than they used to be. There are several reasons for the major price cuts over the years, including increased competition and advancements in manufacturing (especially the process of cutting several screens out of a larger sheet of “mother glass”).
But there’s another factor keeping TV prices low: Consumers’ viewing data is being collected and sold to advertisers. This “post-purchase monetization” often results in targeted ads on smart TVs, and while it may offer affordable TV prices and accurate targeted viewing recommendations, the feature can be disabled for a more anonymous viewing experience.
In 1941, an average flight from Los Angeles to Boston would have cost more than $5,000 in today’s money (and taken an excruciating 15 hours); now, a nonstop, one-way flight from Los Angeles to Boston commonly costs around $300 and takes about six hours. And an average domestic round-trip airfare is about $400 in the U.S.
In 1959, a Kenmore washer was advertised in Sears’ “Wish Book” Christmas catalog for $209.95. (The matching dryer was listed at $169.95.) Today, that amount inflates to more than $2,200 — a $1,600 difference from a basic $500 to $600 top-loading Kenmore machine today. That’s a happy trend, lest we have to wash our increased amount of clothing by hand.
Considering today’s popular toys, from Squishmallows to STEM gadgets to LEGO sets, prices average out at about $50. That is not too different from the $25 Cabbage Patch Kids of the 1980s (about $70 today), or the $8 Rock'em Sock'em Robots of the 1960s (about $80 today), but the current cost of similar toys is much less than those inflated costs. Today, you can get a modern Rock'em Sock'em set for under $30, or a standard Barbie doll for about $12 — much less than an average Barbie from the 1994 JC Penney catalog, which, at $15, would cost more than $30 today.
Once considered a precious metal more valuable than gold, aluminum became drastically cheaper in the late 19th century. Although it’s the most abundant metal in the Earth’s crust, it wasn’t always easy to extract from its ore. After the Hall-Héroult smelting process was developed in 1886 by two different scientists — Charles Martin Hall in Ohio and Paul-Louis-Toussaint Héroult in France — it became easier to isolate aluminum, which revolutionized its production.
In 1884, when the element was still rare and expensive, the United States used 6 pounds of it atop the Washington Monument. At the time, aluminum cost about $17 a pound — that would be more than $500 per pound today. Within a few short years, thanks to Hall and Héroult’s new process, the price of aluminum plummeted; today, the metal is worth about $1.15 a pound, and is most commonly used in everyday aluminum cans.
Buggy whips?
Life - in every US city.
My first computer was a Windows 98. I was too young to remember but the elders told me it was over $2k.
TVs and the like are free these days. You just have to wait for a riot.
Dollar Bills.
Worth less, anyway.
came here to post this.
actually, was just going to say, “the dollar.”
Life
Self-Respect
Dignity
Pornography and sex. These hoes are throwing it around like birdseed.
They left out long distance calls
The toys from Remco and Marx back then were MUCH cooler (at least for boys) than anything today.
Beautiful cursive handwriting.
The drop in the price of aluminum is interesting. It went from $500 a pound to $1.17, and yet the aluminum industry is worth exponentially more today that when it was a precious metal. It makes you wonder what would happen if a cheap source of gold were discovered. Yes, the unit price of the metal would drop tremendously, but because, like aluminum it has so many uses, the commercialization of cheap gold would lead to even greater wealth.
Supply & demand is the reason. They have too much supply, and not enough demand.
Air. Not by much.
RE: Air. Not by much.
There used to be a time when I could get FREE AIR for my tires at the gas stations. Not anymore.
Washing machines, along with over “energy-saving” appliances...are pieces of junk nowadays. Filled with inferior plastic parts, mostly Chinese, only lasting a couple of years.I would gladly pay more for a washer if it was built to 1970s standards.
The same with toys..along with being made with slave labor.
How wonderful. I feel so much better now. The out-of-control rise in prices is just an illusion, and biden is making life so wonderful for us all.
< / s >
Shortly after the first Compaq “portable” computers came out (1982), my employer bought one for me. Of course, it was heavy enough that I had lean to the opposite side when carrying it to counterbalance.
They were in demand and there was some price gouging, but the cost was $6,400.00.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.