It's a strange world. As always, much more complex than the numbers suggest.
The cultural difference between 1957 and now is astonishing. People expect
to have so much, even when their ability to earn is minimal. I grew up in a
rented house, in a family with one used car, one used TV, plain food on the
table and clean clothes. We didn't buy books-except for the shiny
encyclopedia in it's special bookshelf--we got them from the library. We
didn't stay in hotels and motels on vacation--we either went to relatives,
or we made day trips.
In today's terms that sounds deprived, but my father was a mid-level
manager, working for GMC truck. Now a person who had worked for a company
for 20 years and made their way to that level would consider those limited
expectations and that lifestyle to be absurd. But that was very typical. The
level of expectation of consumption today seems very strange to me. People
live with a debt level I find amazing, and no real hope of paying it off
soon enough to be able to do much about retirement or just old age.
I'm not sure whether that all this is bad or good--to me it's just
different. The rest of the world, especially countries like India and China,
are radically changing their standard of living. Feels like an equalization
is taking place. We can no longer manufacture many things with any kind of
rational economic benefit. Manufacturing, software development, call
centers, technical support--all moving or moved offshore.
That's what I meant by "rounding errors"--not that the change isn't
significant, but that in the face of the cultural shift, it doesn't explain
much.
-----Original Message-----
From: owner-fot@autox.team.net [mailto:owner-fot@autox.team.net] On Behalf
Of Michael Porter
Sent: Saturday, October 08, 2005 9:26 PM
To: WEmery7451@aol.com
Cc: edwardbarnard@prodigy.net; kaskas@cox.net; vintage.racer@comcast.net;
fot@autox.team.net
Subject: Re: Interesting Catalog
WEmery7451@aol.com wrote:
>In a message dated 10/8/05 7:06:50 PM Pacific Daylight Time,
>edwardbarnard@prodigy.net writes:
>
><< As I remember it was $100 for a complete Hepolite kit of four
>pistons and sleeves 87mm. >>
>
>I went through a few sets back then. One piston looked like a 30 OT 6
>slug went through the top of it. The distributor had screwed up and
>kept right on advancing.
>
>In my opinion, these items cost about the same back then as they do today.
>The dollars were worth a lot more back then, and people made a lot
>fewer dollars.
>
Cost has to be considered against purchasing power. In 1957, the minimum
wage was $1/hr. Accounting for inflation, one would have to make $6.80 to
have equivalent buying power today. Since the minimum wage is now $5.15,
purchasing power is 75% of what it was in 1957. The cost for a replacement
piston/liner set for wet-sleeve engines closest to stock is from BPNW (and
an 86mm set, at that, no 83mm set available)
is $604. So, in actuality, wages have increased 5.15 times since 1957,
but prices have increased 6.05 times. In 1957, 100 hours of labor bought a
piston/sleeve set, while in 2005, it requires 117 hours of labor to buy the
equivalent parts. While manufacturing costs have gone down with improved
processes, in the U.S., purchasing power has declined at a greater rate.
Cheers.
--
Michael D. Porter
Roswell, NM
Never let anyone drive you crazy when you know it's within walking
distance....
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