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Old December 19, 2019, 10:50 AM   #36
Fishbed77
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Join Date: November 23, 2010
Posts: 4,720
Quote:
Cost is relative. Yes things cost more, but people are earning much more. We need to work fewer hours in order to afford most of the things we buy than we did when I was in college in the 1970's.
This is opposite of reality. Purchasing power for most Americans has barely changed in the last 50 years.

https://www.pewresearch.org/fact-tan...d-for-decades/

Also consider that there are many expenses today that Americans in the 1970s didn't have to incur. Things like internet access, which didn't exist at that time, but is practically required to function in society today. Or the runaway cost of automobiles, which are required by a huge percentage of the American population just to get to work due to the lack of good public transportation in the vast majority of this country.
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