Free Trade

Eric Boehm | 10.14.2024 12:00 PM

Economist Mark Perry has been tracking the prices of various goods and services since the start of the 21st hentury. His so-called "Chart of the Century" neatly summarizes which products have become more expensive and which have become more affordable relative to overall inflation:

Updated "Chart of the Century" with data through June 2023. Note: Since 2000, College Tuition increased 184% which is 2.4X greater than overall inflation of 76% & 1.7X greater than the 110% increase in average wages. No wonder there's $1.8T in student loan debt @stevenfhayward pic.twitter.com/m1IkiS2PQ4

— Mark J. Perry (@Mark_J_Perry) August 2, 2023

Even after the recent high inflation run, the trends are clear. Categories that have high levels of government intervention (health care, college tuition, housing) have seen prices rise faster than categories where the market has been more free (home goods, clothes, TVs). The lowest line on the chart shows the price of televisions, which are 97 percent more affordable today than in 2000........

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