Inflation, is the simple answer. But what causes this? Why couldn’t society just keep on keeping on with prices? Examples, a $0.25 for a candy bar, $0.75 for a fast food burger, $30k for a home etc. It worked then, so why not now, why not just agree to lower the prices of everything?
In: Economics
If there are only 100 dollars that exist, 1 dollar is pretty valuable.
If there are only 1,000,000,000,000 dollars that exist, 1 dollar doesn’t mean shit.
60 years ago, there were a lot fewer dollars that existed compared to today.
That’s pretty much it.
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