and the how the individual value of things fluctuates pretty wildly even with something obvious like supply and demand. A pipe could cost less cause more people were buying them
A New Pipe for 25 Cents?
- Thread starter jpmcwjr
- Start date
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I doubt there were or are wild fluctuations in the prices of most pipes over the last 150 years.
Usually, when more people buy something, the price goes up.
Usually, when more people buy something, the price goes up.
On the other hand I suppose that the consumer price index is considering the same basic goods and services such as food items, transportation, basic medical care, housing, etc. I suppose that the statistic is not that subjective since changes in the basics have been rather insignificant .. an egg is still an eg, a lb of sugar the same, even a bus ticket as a basic form of transportation is desired within affordability regardless of whether the buss had a 8.0 liter engine back then or is electrical now days. What I am trying to say is that 0.25 in today's money, while it may have a slight variance, still makes for a nice and affordable pipe. A dr. Grabow nowadays starts at $60 and some change .. In my opinion, the only difference between now and the 1920 in this regard, is a huge gap in demand - less demand, the prices for pipes skyrocketed.
"Census Bureau data show that the median household income, measured from 2009 to 2013 (the most recent data available), is $53,046. Back in 1915, two years after income tax came on the scene, you were doing about average if you were making $687 a year, according to the Census."
25 cents is to $687 what $19.30 is to $53,046.
So it's a $20 pipe.
(And I do think that decreased demand requires increased profit margin per unit to remain viable.)
25 cents is to $687 what $19.30 is to $53,046.
So it's a $20 pipe.
(And I do think that decreased demand requires increased profit margin per unit to remain viable.)
There was no minimum wage in 1915. It was not established until 1938 when the Fair Labor Standards Act was passed and it was 25 cents
Here is a page from a 1915 S&R catalog.
Architecture Print - Rockers, Sears Roebuck Catalog, 1915 - Original Art, Antique Maps & Prints
Vintage Print on paper displayed on a white mat with a gold border. Mat fits a standard-size frame. Archival plastic sleeve and Certificate of Authenticity included. Vintage Print, 7.75″W x 10.75″H; mat, 16″W x 20″H.
mapsandart.com
