I have a books which not only give prices of things,during various years and I am now going to post from them.
In the 1920s, the average yearly salary was $1,236.00.
The PRIME RATE was 5.4%.
Eggs cost 68 cents the dozen, milk was 17 cents a quart, bread was 12 cents a loaf.
In the 1950s, the average yearly salary was $2,992.00.
The PRIME RATE was 1.5%.
Eggs cost 72 cents the dozen, milk was 21 cents a quart, bread was 14 cents a loaf.
Now,let's throw in the 1930s.............
The average yearly salary was $1,368.00.
The PRIME RATE was 3.6%.
Eggs cost 44 cents the dozen, milk was 14 cents a quart, bread was 9 cents a loaf.
These prices are all averages.I have old magazines and very old newspapers,which I love to read and would be happy to post from them as well;which would give a more regional and pertinent year price.
Average? What was the spread, and the median? What did it cost to rent a room - $5 and night? Less? What about today, for a similar room and board? $60, $100? More?
milk was 21 cents a quart
A genuine 100 octane gas was probably under .25/gallon. And gasoline rated at barely 2/3rds of that, today, and called premuim sells for what - $2.50? More? Soon to be more?
The car to put the gas in cost what - $3000 in the late 60s? Say a camaro, even a high performance 'Z' or 'SS', right? Today - what - $30,000? They call that an order of magnitude increase. That's a little over 30 years. Salaries have done the same?
A paperback book cost maybe, what - .10, .15? Less? The same book today, which looks the same, exactly the same, runs what - $4.25? $6? More?
A hardback schoolbook, say one of Knuth's little trilogy, cost what even in the late 60s? $15? Less? And what about today? $50? More?
Did small hardback monographs, say 50 pgs, cost a lot in the 50s, 60s? But today - what - $125? More? Been to a college bookstore lately? Take the oxygen tank with you - you'll need it.
It's been said, before, that if all other businesses had gone the way of microfab, you could build a freeway for $10, and they'd have to give cars away for free. But other businesses haven't followed suit.
Eggs cost 44 cents the dozen
If that were true, and you can get 18 on sale, regularly, at the chain supermarkets, for $1.50, today, then think of the livelihood. Eggs are produced. They are sold for profit. All the rest has skyrocketed, all the prices faced by egg producers. But people are paying only 3x for their product compared to the 1930s? according to your number. That says something, doesn't it?
You take land that cost $10K in 1970, let's say, and see what it runs today. Housing has skyrocketed. But the egg producers aren't seeing a similar increase in income, as you would have it. You're sort of making the point.
Nice numbers! Thanks. I didn't go further back then the 50's as he presented it as the golden age that everyone would like to return to.
Here is another good number. In the 1950's a average of 2% of the family income went for leisure. In 2004 it was 15%.