Food Prices in 1919 Compared to Today
The Fake News media repeats many falsehoods, one of the most damaging is that wages have stagnated since the 1970s and the standard of living is falling compared to years of yore. Neither of these opinions is valid. Compounding the problem these opinions commonly appear in the news section of the media, not in the editorial section.
This article nicely summarizes the truth that food prices are falling like a rock when compared to the past.
It also provides support for the fact that the stagnant wage argument is false. The stagnant wage argument has been frequently debunked but assuming it were true; it is not sufficient to know whether the individual's economic position would be worsened if it were true. The example here is apropos. If the individual's wage were stagnant, but prices generally were dropping along the lines of food, the stagnant wage would be highly unlikely to result in a decline in the individual's economic position.
The reason is simply that the price decline outweighs any minor inflationary increase the individual might see.
John and Jane Doe of Anytown, USA, Worry About Middle-Class Stagnation As They Read Reports of It On Their IPads as They Wait to Board Their Flight to Cancun
Why it’s still the case that Americans should stop whining and complaining about rising food prices
Often one innovation will destroy the price of dozens of very expensive things; the best example is the iPhone.
Happy 10th birthday, iPhone — perhaps the most remarkable and revolutionary consumer product ever introduced