Vern Scott
Dec 15, 2022

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Great thoughts! I wrote an article once (see below) about "true" inflation over the years. My research revealed that globalization had seriously cut the prices of food, clothing, electronics, while medical had greatly increased (other things like fuel & housing largely remaining the same...yes surprising but "rents" were relatively stabile while housing appreciation went into pockets of owners as "profit", not affecting "cost of living")

https://scottvern.medium.com/has-inflation-been-defeated-or-redefined-ae08e6840ab0

My conclusions were that the net effect on the average consumer (wages & prices) was minor. People forget that food & clothing used to be major portions of household income (up to 40%, now about 15%) 100 years ago. As you implied, better that fuel and food cost more given the env. impacts and need for better conditions for food gatherers. We also need to cut the expense of medical care!

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Vern Scott
Vern Scott

Written by Vern Scott

Scott lives in the SF Bay Area and writes confidently about Engineering, History, Politics, and Health

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