Relative income share is not affected by inflation.
Comment on WTF Happened in 1971?
KingSlareXIV@infosec.pub 8 months agoUnfortunately nearly every graph on that page is intentionally misleading. If you actually adjust the graphs for inflation (where it’s relevant), 1971 looks like just another year.
Lying with statistics!
eestileib@sh.itjust.works 8 months ago
reddig33@lemmy.world 8 months ago
Go watch some price is right episodes on YouTube — one from each year of the 1970s. It’s astounding how much the prices drastically change on automobiles and food just over a year or two.
Strangely, basic clothes washers, dryers, refrigerators, and stoves seem have the same pricing as today.
Kalothar@lemmy.ca 8 months ago
It’s not really that strange when considering cars have been progressively held to higher safety standards for carrying a human being, while those other devices have not.
Haui@discuss.tchncs.de 8 months ago
You are leaving out the fact that manufacturing methods have drastically increased in sophistication and machines are building most of the cars today, not the costs of the cars have increased but the earnings of the companies, household items have drastically changed in safety standards as well (fuses, electronics, handbooks) compared to their relatively low complexity.
Kalothar@lemmy.ca 8 months ago
Yeah, I’m not really the best person to speak to this myself as I don’t know a lot about the auto industry. It’s definitely a multifaceted issue, I just wish we had a more equitable system to avoid artificial price increases.