Capitalism reduced the price of food 85% in the past century
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Date: October 4th, 2026 9:34 AM Author: wonderful spot
Our analysis begins with the 1919 nominal prices of 42 food items, ranging from a pound of sirloin steak to a dozen oranges. We then express those nominal (i.e., 1919) prices in terms of hours of work.³ The "time price” of a food item in 1919, in other words, denotes the length of time that a blue-collar worker had to work to earn enough money to buy that same item in 1919. We then look at the 2019 prices of the same food items (including, of course, the same quantity of those foods). We then express those nominal (i.e., 2019) prices in terms of hours of work.5 The time price of a food item in 2019, therefore, denotes the amount of time that a blue-collar worker had to work to earn enough money to buy that same item in 2019.
We find that the unweighted average time price of our 42 food items fell by 87 percent between 1919 and 2019. The total time price (i.e., the nominal price divided by the nominal hourly wage) of our basket of 42 food items fell from 27.26 hours of work in 1919 to 3.85 hours in 2019.
(http://www.autoadmit.com/thread.php?thread_id=5909588&forum_id=2#50170227) |
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Date: October 4th, 2026 11:39 AM Author: wonderful spot
In 1883, the three founded a new company producing industrial machines: Benz & Companie Rheinische Gasmotoren-Fabrik, usually referred to as Benz & Cie. Quickly growing to twenty-five employees, it soon began to produce static gas engines as well.
The success of the company gave Benz the opportunity to indulge in his old passion of designing a horseless carriage. Based on his experience with, and fondness for, bicycles, he used similar technology when he created an automobile. It featured wire wheels (unlike carriages' wooden ones)[20] with a four-stroke engine of his own design between the rear wheels, with a very advanced coil ignition[21] and evaporative cooling rather than a radiator.[21] Power was transmitted by a belt to a counter-shaft with a differential, from each side of which a roller chain transmitted power to that side's rear wheel, which ran loose on the rear axle. The 1885 version was difficult to control, leading to a collision with a wall during a public demonstration.
Benz continued to work on his Motorwagen and on 29 January 1886 he submitted the patent application for an "automobile fueled by gas".[22] He first tested it on public roads in the early summer of 1886 and drove it publicly on the Ringstrasse in Mannheim on 3 July 1886. He received patent number 37345 in November 1886 (the date given for a patent is the application date) and the vehicle henceforth became known as "Benz Patent-Motorwagen".
The next year Benz created the Motorwagen Model 2, which had several modifications, and in 1889, the definitive Model 3 with wooden wheels was introduced, showing at the Paris Expo the same year.[21]
(http://www.autoadmit.com/thread.php?thread_id=5909588&forum_id=2#50170306) |
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