eolesen
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- Jul 23, 2003
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Name me one other industry where prices have smaller percentage increase in the last 20 years. Food, tires, taxes, auto repair, etc., etc. ?
How about home improvement, fast food, video rental? The price for a box of nails isn't remarkably higher from 1991. Neither is the cost of a cheeseburger at McDonalds or Wendy's. And I'm paying the same at Redbox as I did for Blockbuster in 1991. Maybe even less.
Even new build housing looks like it is back to where prices were 20 years ago, which says that the construction industry's costs are probably flat.
Some things got much cheaper, like DVDs, cell phones, digital cameras, computers, personal calculators.... Just about everything with a plug or a battery on it is cheaper now than it was 20 years ago. Some of that is due to volume, but more of it is due to productivity or technology increases.
Since you were around automotive, how much of the real diagnostic work in an auto repair shop is done in two minutes with an OBD2 connector, versus a technician having to run down a mental checklist or completely inspect the vehicle? Bob's posted a couple times about how auto mechanic wages have gone up, but how many are required today versus 20 years ago, adjusted for sales? With all the centralization that's gone on, it's not a given that every dealership has a service department in every location. That says to me that not only is reliability of the product up, but technology has made it easier to fix.