1978 students working min wage were able to pay full yrs tuition at 4 yr public univ

[werepossum]

Except that definition of inflation is as moronic as it gets. This is the problem with Libertopians, they fit every square peg into a round hole by repeatedly bashing it into the hole, hoping that it eventually fits. They are too stupid to realize that it won't fit but they keep trying like little 6 month olds. That also happens to be their mental capacity.

That applies at least as well to the other side too. Government is a big ass hammer and every problem looks like a nail. Thus government "fixes" the problem of unaffordable tuition by injecting wholesale piles of cash and as a result, tuition costs skyrocket. Government then "fixes" the problem again by increasing its cash injections.

On the flip side of this, my HP-67 calculator cost almost $500 in 1978, about four weeks take-home for me at the time. I got lucky enough to pick up mine used in '79 for half price, but the point still stands that while some things are much worse, others are much better.

 

[ElFenix]

the money multiplier is what, 2 or 3? When it could be, 12 or whatever.

Tell me more about the reasons you think wages not keeping up

the money multiplier is dead

as to the second part:
tax system heavily leaning toward investment rather than consumption; addition of married women to the workforce; baby boom in general; addition of a couple billion people to the global workforce between the collapse of communism in eastern europe and the rise of china and india

That applies at least as well to the other side too. Government is a big ass hammer and every problem looks like a nail. Thus government "fixes" the problem of unaffordable tuition by injecting wholesale piles of cash and as a result, tuition costs skyrocket. Government then "fixes" the problem again by increasing its cash injections.

cost per student hasn't gone up much in relation to inflation. what's actually happened is that state support per student has declined a ton. now the student has to make it up.

so the strategy changed from the states increasing supply, to the feds increasing demand. unintended consequences are the rise of online diploma mills of dubious quality and a generation of students who can't afford their first mortgage.

he further clarifies his point by saying World War 2 ended the Great Depression

WW2 did end the great depression.