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by amonon
491 days ago
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This rings more true for me. Food simply used to be a lot more expensive. "Between 1960 and 2000, the average share of Americans’ disposable personal income (DPI) spent on food fell from 17.0 percent to 9.9 percent." [1] I am not going to look for a source right now but I would venture that since the 1960's were part of the industrial era that food was even more expensive before the creation of the Haber process and gas powered farm tools. [1] https://www.ers.usda.gov/amber-waves/2020/november/average-s... |
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You are correct that it used to be even higher. The US BLS estimates around 40% of DPI was spent on food at the turn of the century (1901). [1]
[1] https://www.bls.gov/opub/100-years-of-u-s-consumer-spending....