April 19, 2012

NOTHING COSTS MORE THAN IT USED TO (via The Other Brother):

How America Spends Money: 100 Years in the Life of the Family Budget (Derek Thompson, APR 5 2012, The Atlantic)

Fortunately, we have something that's very close to an aggregate receipt for the American family going back more than a century: "100 Years of U.S. Consumer Spending", a report from the Bureau of Labor Statistics. 

This is our story today: It is a story about how spending on food and clothing went from half the family budget in 1900 to less than a fifth in 2000.It is a story about how a nation that feels poor got so rich. Here's the big picture in one chart showing the share of family spending per category over the 20th century. The big story is that spending on food and clothes has fallen massively while spending on housing and services has gone up.

1900 1950 2003.png
Of course, the average home doubled in size from 1950 to 2000 and healthcare is no longer a necessity but a consumer good like entertainment.



Posted by at April 19, 2012 5:29 AM
  

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