23 November 2011

Exchange Rates

You might think you're being ripped off, because your price perceptions are based on your first shopping experiences.

Here's the reality:

A steak that was $10 in 1990 now costs $16.96.
A vinyl double-album that sold for $10 in 1980 would cost the same now at $26.70.
A pair of jeans at $10 in 1970 now costs $57.47.
Shoes that were $10 in 1960 now cost $75.98.
A radio that cost $10 in 1950 now costs $92.04.

The second price is not more expensive than the first.