Cost Measured by Work Minutes

by Elaine Schwartz    •    Aug 31, 2010    •    471 Views

Having referred to a $40 1970s airline ticket, I was curious about other prices 35 years ago. Not everything was cheaper.

(According to the Dallas Fed, in 1974, a 1 ounce bag of chips was approximately 25 cents, and in 1980, a large pepperoni pizza averaged $7.99.)

But, having pondered prices, the Fed said, instead of comparing prices, look at work minutes.

Deflation discussio

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