Airplane tickets used to cost a lot more for economy class, even adjusted for inflation and fees. To get the equivalent service and quality today you simply have to pay more, you just have the choice of paying very little for very low quality because there’s more flights and more planes.
Same can be said for most electronics and even clothes. I’m not saying that a high price label guarantees high quality, just that the spectrum of cost vs quality has broadened, even within big name brands. There’s now cheap and expensive Nike ranges, for example, where there used to be only the quality expensive tier.
But if you look at the cost of, say, quality furniture today and adjust for inflation, it’s going to be around the same as quality furniture 50 years ago. We just have the choice to pay a lot less for much worse now.
https://www.aei.org/carpe-diem/even-with-fees-the-miracle-of...
Same can be said for most electronics and even clothes. I’m not saying that a high price label guarantees high quality, just that the spectrum of cost vs quality has broadened, even within big name brands. There’s now cheap and expensive Nike ranges, for example, where there used to be only the quality expensive tier.
But if you look at the cost of, say, quality furniture today and adjust for inflation, it’s going to be around the same as quality furniture 50 years ago. We just have the choice to pay a lot less for much worse now.