Is inflation becoming a thing of old-technologies and products?
Tuesday, October 23rd, 2007If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
We live in a time when prices go up all the time, don’t we?
Actually, no we don’t really. When was the last time you replaced a computer with one that was only as powerful as the one you had before? Have you ever bought a car that was only built to the same standard of a car, say, 10 years ago?
Or consider books, one of the oldest technologies. The Encyclopedia Britannica cost just over £600 in 1981 yet you can buy the updated one on paper for £650 26 years later and £30 gets you the same information on DVD.
In fact, inflation these days seems confined to items in short supply such as houses, land and oil.
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