Quote:
Originally Posted by BoLevi
No.
In 1920, before egg production became highly automated, the average wage was just under $9 per day in the US. In 2021, the average wage is just over $142 per day.
In 1920, a dozen eggs cost $0.47 (and were worse quality)
In 2021, a dozen eggs costs $1.51
So in pre-automation, the average person has to work 5.2% of their day to earn a dozen eggs. In 2021, they have to work 1.1% of their day to earn a dozen eggs.
We could adjust for average work day length to determine actual labour time to earn a dozen eggs, but it won't make up for a a 5x difference in labour:egg costs.
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I never realized that when I got a raise it was automation that was responsible for decreasing the percentage of my earnings spent on all of my pre-raise purchases.
I don’t know where you’re finding a dozen eggs for $1.51 though but by your theory I guess we just have to keep waiting for automation to get us there.
I should point out that nothing in your post substantiates your claim that automation causes prices to drop. Even in your egg example the price literally more than tripled.