What’s Getting Cheaper?
University of Michigan economist Mark Perry compiled a short list of products that are significantly cheaper today than they were ten years ago. At the top of his list: Computers (down 90 percent over the last decade) and TVs (down 74 percent). Toys are down too (44 percent), as are new cars (3.4 percent), although given the rise in metals prices that may well be a thing of the past.
In related news, The Economist is running an online debate over whether “there is an upside for humanity in the rise of food prices.”
(HT: Marginal Revolution)