While simultaneously lifting the poverty level. Believe it or not, when Reagan was president it was cheaper to repair TVs than to buy a new one, and only a few rich people had a computer.
Only a few rich people had computers in 80's? During the 80's, millions of low cost computers were sold such as the IBM personal computer introduced in 1981, the Radio Shack TRS-80, and Commodore 64.
Millions of low cost computers?
The Trash 80 sold for 800 bucks, the PC was twice that, and the 64 was about 600. The reason I said only a few rich people had one is not just because of the price, it also factored in the fact that they were pretty much useless unless you were a hacker or you had a business that could afford the expense. Millions of sales, if accurate, out of a world population of billions, over a decade, amounts to a few rich people, no matter how you want to try and spin it now.
In order to actually compare the cost of an item today and yesterday, it should follow the same protocols
For example, it does no good and is inherently dishonest to compare a 25" Color Television made in 1960 to a 25" Color Television today.
Why? Because for one, Color TV did not come out till 1954, and even in 1960, only 1% of households owned one. While 99% own one today.
What we need is an example of something mass produced in this country then and now, where the majority owned it.
A black and white tv would be a good example, since most households had one and was the biggest seller.
So, looking at historic TV Prices:
TV Set Prices
1970
B&W: Tabletop
'70 Muntz: $65 (12")
'70 Motorola: $89 (12")
'70 Sony: $154 (12")
'77 GE: $90 (12")
B&W: Console
'77 Sears: $230 (22")
'77 Sylvania: $240 (22")
'77 Motorola: $260 (22")
'78 GE: $230 (22")
and adjusting for inflation
2010
B&W: Tabletop
'70 Muntz: $465 (12")
'70 Motorola: $637 (12")
'70 Sony: $1103 (12")
'77 GE: $644 (12")
B&W: Console
'77 Sears: $1647 (22")
'77 Sylvania: $1719 (22")
'77 Motorola: $1862 (22")
'78 GE: $1647 (22")
When comparing two products from two different era's, they should be similar in nature, mass produced as today, and range from the bottom to the top of the line as those in 1970 were.
Looking at todays prices from the bottom end to the top end of tv's available as then.
LCD TV's
'2010 Sharp: $600 (32")
'2010 Samsung: $3299 (65")
'2010 Sony : $5000 (65")
'2010 RCA: $480 (22")
Looking at today's prices, I don't see much difference between then and now, except someone is pocketing the difference and it isn't the consumer.
Also, the life expectancy of the product should be taken into account then and now.
If you shell out a $1000 dollars for a fridge now, and it dies in 2 years due to crappy quality and need to buy another, versus the older more reliable fridges, did you really save money?