The following chart from Arbor Research shows that the average age of cars on the road in the US is 14.5 years. If we go back to 1995, it was almost half that, and the increase has been steady sinc…| Economist Writing Every Day
Last week I did a comparison of “time prices” for several goods and services in 1971 compared with 2024. For almost all goods and services, it took fewer hours of work in 2023 to purcha…| Economist Writing Every Day
I’ve written before on this blog about “time prices”: the amount of time it takes at a particular wage to buy a specific product. Time prices are especially useful for making hist…| Economist Writing Every Day
