Christmas shopping: 1958 vs. 2012

http://newsdoors.blogspot.com/2012/12/christmas-shopping-1958-vs-2012.html

Christmas shopping: 1958 vs. 2012

One way to illustrate your good fortune of being a holiday shopper today is to measure the cost of consumer goods by the number of hours it takes working at the average hourly wage to earn enough income to purchase typical consumer products at their retail prices, and then compare the “time cost” of goods from the past to today’s “time cost” for similar items (this is an update of a CD post in 2009).  (Don Boudreaux has been featuring some similar comparisons in a series on Café Hayek titled “Cataloging Our Progress,” which inspired this post.)

http://newsdoors.blogspot.com/2012/12/christmas-shopping-1958-vs-2012.html