Why cost of retail goods is actually going down
As I waited for a taco Friday, I saw a discarded Sears Catalog dating to 1992. I picked it up and spent the next day browsing. Two things struck me. The prices of everything from pajamas to TVs, from furniture to auto parts, were almost all higher, yes higher, then they are today. Now, I am allowing for 23 years of inflation, but with few exceptions, everything was higher.
I asked myself, why? The answer is both simple, and depressing. In 1992, we made most of the items here in the U.S. Today the vast majority are made overseas. Again, why? Labor. Factories here are all but gone. Between the labor cost here, the regulations and the numbers of Americans able or willing to work at factory jobs, we have all but given it away. I like being able to buy a new toaster for $25, and that TV, bigger and brighter, for $300. But at the same time I long for the days when my neighbor or uncle worked, here, to build these items for here.
— Dan Misko, Felton