Changes in prices over time continue to fascinate and perplex me. San Diego’s local newspaper regularly revisits major sports stories from 50 years ago, and they recently reported that in 1964 the great baseball pitcher Sandy Koufax irked his peers by demanding an unheard of $70,000 a year salary. Today, by contrast, dozens of baseball players make over $10 million annually, with the highest paid earning $17 million - 242 times what Koufax made 50 years ago!
Home prices are another mystery. The average home price in San Diego was about $16,000 in 1964; now it’s around $450,000, or 28 times higher. Not as insane as pro sports salaries, but still…
Meanwhile there are things like bread that have gone from 20 cents to perhaps $2, cars that cost an average $2,350 then vs. $31,000 now, and television sets that have gone from $150 for a modest 19” set to $300 for ... Log in or subscribe to continue reading.
Premium Content Notification
A subscription is necessary to access premium content.
Please use the button below to subscribe in order to access all premium articles