Quote:
Originally Posted by CliffFletcher
I'd suggest that's because most Americans don't understand the ramifications of protectionist trade policies. The fact that most stuff we buy today is way, way cheaper than it was 50 years ago has gone unnoticed in the popular consciousness. Ask people if they want to see protectionist policies if it means everything they buy at WalMart will cost 30 to 70 per cent more and see how they respond. I mean, they have the option today to buy locally produced goods or foreign-made ones, so this isn't some hypothetical issue.
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No! From memory with inflation I can only think of a few items, Color TV's in 1975 were expensive and probably a few other electronics as solid state was fairly new, Booze was close to the same as now but many many other items were way cheaper then.
Average wage was about $9300.00 per year converted to today's money it would be about $40.000 per year, real time average wage in Canada is about $48,000 a year now but it's not near enough to make up the difference.
Automobiles.
!975 loaded Corvette convertible was $7400.00, converted to today's money it would cost you about $32,000. today's corvette is about $83,000
Average car price was under $4000.00, (should be about $15,500 today) clearly a lot cheaper then.
Man's haircut in 1975 was $1.50 (should be $6.50 today) now it's 3 times that price at least.
Loaf of bread in 1975 was about 30 cents, I remember 4 for a buck.(should be $1.30 today) Bread is at least twice the price now.
Gas in 1975 was about 14 cents a liter.. duh!
I could go on and on but there isn't a need, dollar went farther in 1975 period.