Monday, December 14, 2009

Oh Brave New World! (or, Then And Now)


CARPE DIEM: Christmas Shopping for a TV: 1958 vs. 2009:


In 1958, American holiday shoppers paid $269.95 for Sears’ “best 24-inch console TV” (Update: black and white) in its Christmas catalog.... [I]t would have taken 136.34 hours of work at the average manufacturing hourly wage then of $1.98 to earn enough income (ignoring taxes) to purchase the TV.



Today you can purchase a Sansui 26-inch widescreen LCD high-definition TV on the Sears website for about $350 (or chose from the several hundred other TVs available), which would be a “time cost” today of only 19.03 hours of work at today's average hourly wage of $18.39, and this represents an 86 percent reduction in the cost compared to the 1958 TV. 

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