Dell Catalogs Then and Now
However, two other points often overlooked:
1. The new products that appear year to year. This catalog from 01 was very light on photography and video, for example.
2. The rapidity with which new technology becomes a mere "add-in." In my current Dell catalog, a 17" LCD is the standard basic included monitor, with high-end systems including a 19" LCD. In May of 2001, there was a "new" item in the monitor section: a 15" LCD monitor for the bargain price of ...... $540. In 4 to 5 years, that same item isn't as good as the "toss-in" on new systems.
You can buy a 15" LCD for just over $200 at Dell today (or $178 at PC Connection), but even their "bargain" systems include a free 15" LCD. For example, you can buy a whole system for $499 that is at least twice as good as what I bought in 5/01 and get included FREE a monitor that cost more in 5/01 than the whole computer including the same monitor does today!
How we account for these improvements in product quality and the falling real cost of such products when we talk about economic well-being remains a tricky business, but there's no doubt about the reality. Real worker compensation may be growing very slowly, but what you can buy with it continues to grow significantly.
comments powered by Disqus
Steven Horwitz - 1/2/2006
Great question Sudha, and I agree with the thrust of your argument. We should be more concerned about what people are able to consume not how much income/wealth they have. The work by Cox and Alm and others on what consumer goods even the poorest Americans own along with other work on longer life expectancies, better health, etc are what really matter for judging how well American workers are doing, and for trying to understand the role the market plays in helping to bring those results about.
Sudha Shenoy - 1/1/2006
"real worker compensation may be growing very slowly but what you can buy with it..."
So _which_ is "real worker compensation"? A sum of money 'deflated' by some perennially out-of-date, crude 'index'? or what people _actually_ buy & use/consume? And what does the former have to do with the latter, anyway?
- Rubio Surges Into Second In New Hampshire
- Branstad Says Cruz Ran ‘Unethical’ Campaign
- Christie Highlights Santorum’s Endorsement of Rubio
- Portman Comes Out Against Trade Deal
- Megyn Kelly Gets a Book Deal
- A Big List of the Bad Things Clinton Has Done
- An Unambiguous Sign Sanders Won Last Night’s Debate
- Still Friends at the End
- Quote of the Day
- Trump Still Leads as Clinton Slips
- Clinton Can’t Shake Image as Wall Street’s Friend
- Maddow Doesn’t See Sanders Winning
- Why Does the Media Still Shield Chelsea Clinton?
- Bush Jokes His Mother May Have Abused Him
- Rubio Closes the Gap in New Hampshire
- Transcribed Document: Soviet Politburo Discussed CIA Billion Dollar Spy Adolf Tolkachev
- Pentagon withholds Iraq War photos showing detainee abuse
- These Rebels Have Amassed A Library From Syria’s Ruins
- Was 1916 fire at Canadian Parliament set by German saboteur?
- United Nations Calls On U.S. To Pay African Americans Reparations For Slavery
- Juan Cole says America’s inclination to turn to the military started with Manifest Destiny
- History Jobs Drop
- Paul Krugman gives credence to Robert J. Gordon's pessimism about American economic growth
- Harvard President Drew Faust Condemns Free Tuition Proposal from Outsider Overseers Ticket
- Andrew Roberts says Trump is the Mussolini of America with double the vulgarity