Wednesday, August 27, 2008

Food Prices Fallen Over the Last 100 Years

Dr. Mark J. Perry, professor of Economics at University of Michigan at Flint shows that prices have fallen over the last 100 years.

Do a Google search for "rising food prices" and you'll get 391,000 results, while a search for "falling real food prices" gets about 144 results, a ratio of 2,700:1. Maybe we get so focused on the most recent year or two of rising prices for products like eggs that we lose sight of the longer term, historical trends.

HT to Kruse Kronicle

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