Well then, why bother with, consider, or even have inflation adjustments and calculations.
Just as with income. Income today is far higher than it was 50 years ago. And things in actual dollars cost more in some cases.
I also noticed you didn't respond to that aspect of the post. That many many things are cheaper in actual dollars than they were in the past.
What did a VCR cost 25 years ago? Today?
DVD player? Personal Computer?
Or how about a 42" 1080P plasma tv? A year ago one was $15,000. What does it cost today?
Hell, any HDTV for that matter. Flat panel LCD/Plasma or rear projection.
Well then, why bother with, consider, or even have inflation adjustments and calculations.Real prices have nothing to do with what we were discussing. We were discussing price competition and how prices (nominal) generally rise over time. It make absolutely no sense to bring real prices into a discussion about nominal price competition.