August 25, 2018
IT'S IMPOSSIBLE TO OVERSTATE DEFLATION:
A worker on the average wage had to work 508 hours to buy a 15" color TV in 1954. In 2014, they needed to work only 7.8 hours to buy a 50" high-definition TV, a far better product. That's a price reduction of 98.5%. Explore other price changes over time: https://t.co/kFynZ889LJ pic.twitter.com/MxGOHDCVGN
— Cato Institute (@CatoInstitute) August 25, 2018
Posted by Orrin Judd at August 25, 2018 4:26 PM