• DagwoodIII@piefed.social
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    4 days ago

    It’s like any other luxury.

    Back in 1960, minimum wage was $1.00/hour. You could get a meal at a diner for under $1.00 or go to a really swanky place and spend $4.00 or $5.00.

    Today, minimum wage is $7.50, a diner meal is $20.00, and a luxury meal is $100.00

    You can go out a find a really well build product that will last, but it will cost ten times as much as the one you can afford.

      • DagwoodIII@piefed.social
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        4 days ago

        Nope, totally different.

        Look at the price of Super Bowl tickets.

        First Bowl tickets were $10.00. This year they were going for $6,000.00

        Top luxury car in 1960 was $7,500.00 for a sports car and $35,000.00 for a Rolls or Bentley. Most expensive car today is $30 million.

        The rich have gotten much, much richer and ‘need’ to spend more so people will notice.

        • TheDannysaur@lemmy.world
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          3 days ago

          I agree with your larger point, but I think the super bowl comparison is poor. Popularity has changed so ticket prices will have gone up. The first Super Bowl is not what it is today. The luxury car example was a much better like-for-like comparison.