Buying Power

Here is a graph adapted by Perry to show prices over time and what has happened in the last twenty years to common purchases. The inflation rate was 55% during the twenty years, that is to say the growing available money pool devalued the dollar--and the stable wages and earnings of the hapless citizen--by 55%. But production changed the availability of some products and, hence, the price. (The economics of things makes much more sense if one thinks of it as a management of availability and scarcity.)