| ▲ | robertlagrant 7 days ago |
| You should've seen how unaffordable cars were 100 years ago. |
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| ▲ | defrost 7 days ago | parent | next [-] |
| The Ford Model T sold for $260 in 1925, which is $4,056 in 2021 dollars. Prices were higher in 1922, and the Model T was basic and mass produced leading to a falling price. Across the board, in 1922: https://www.1920-30.com/automobiles/1922-car-prices.html |
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| ▲ | m-p-3 7 days ago | parent | next [-] | | To put a different perspective, the average American income in 1925 was $5,425. So buying a Model T (Touring) at that time would cost you 4.7% of your yearly salary. In 2023-2024, the average car price was $48,274, and the median income was $80,610. It now costs a whopping 60% of your yearly salary. | |
| ▲ | robertlagrant 7 days ago | parent | prev [-] | | > The Ford Model T sold for $260 in 1925, which is $4,056 in 2021 dollars. I'm not sure I buy this conversion. It was targeting the middle classes (and on credit), and middle classes in 2025 could buy that cash. Working classes in 2025 could probably buy that cash, and definitely on credit. | | |
| ▲ | defrost 7 days ago | parent [-] | | The conversion isn't a hill I'd die on, it was sourced from a reddit economics thread as a bold assertion of fact: https://old.reddit.com/r/AskEconomics/comments/q20fr4/the_fo... The 1922 price list looks solid though, it's from a dedicated 1920s 'fan' site, but, again, I haven't personally verified or cross checked the numbers - it just seemed like an interesting bit of info to chase :) |
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| ▲ | jaybrendansmith 7 days ago | parent | prev [-] |
| You are missing the point, poster should have said 200 years ago. The point is that these treatments cost so much because they must be invented and tested. About 50% of that drug cost is the invention, 50% is the testing (in clinical trials) and .0000000001% is the cost to manufacture. |
