Interesting long view of inflation by category

[jon-nyc]

And wages have kept up, interestingly.

[Horace]

I wonder if college textbooks are the perfect microcosm of the non-market-forces involved in higher education costs.

[Jolly]

It's an interesting graph. There are some reasons why hospital services cost as much as they do, and a lot of it is government related. Get the government out of healthcare and get the bean-counters out of the administrative positions and I don't think the rise would be what it is.

I see no reason for college to cost what it does. It's even more ridiculous than healthcare.

Childcare and nursery school are another service where government intervention has sent costs through the roof.

China has kept household furnishings and clothing prices down. Maybe even helped keep the price of cars down.

Toys are interesting. The Chinese can only make so much difference. Wonder why they're so cheap?

[Axtremus]

This is how I think of it:

If it's something that can be automated (and hence the production can be scaled without adding also adding as much labor) -- the price (relative to wages) will stay flat or go down.

It it's something that requires the human touch (and hence the provision can only be scaled with adding just as much labor) -- the price (relative to wages) will go up. Worse if it requires skilled labor, because it's harder to increase skilled labor.

[Copper]

@Jolly said in Interesting long view of inflation by category:

Toys are interesting. The Chinese can only make so much difference. Wonder why they're so cheap?

They aren't as dangerous, less liability.

I'd like to see the chart that shows the cost of a Congressperson, a president and an FBI agent.

[George K]

@Jolly said in Interesting long view of inflation by category:

It's an interesting graph. There are some reasons why hospital services cost as much as they do, and a lot of it is government related.

I doubt this trend has slowed since 2009.

[Copper]

@George-K said in Interesting long view of inflation by category:

since 2009

Each year it takes longer to count them.

It will be a while before they catch up.

[Horace]

Hospital administrators save lives. If we can save a single additional human life with more administrators, then we need to see more yellow on that chart. Period.

[jon-nyc]

@Horace said in Interesting long view of inflation by category:

I wonder if college textbooks are the perfect microcosm of the non-market-forces involved in higher education costs.

Textbooks are their own thing. Obligatory purchase with a side of principal/agent problem.

Higher Ed has other forces involved