is that number in twentyeleven dollars?
Adjusted to year 2000 dollars:1962's pound of bacon cost $4.502011's pound of bacon cost $3.64
I'm pretty sure that's mostly attributable to efficiency gains, but I'm also certain some of that decline in price is made up in more costly federal subsidies to the pork industry that won't be reflected in the price.
Dave M.: No need to pick on subsidies that no longer exist, there are plenty that still do.
I chalk it up to the lowered cost of feeding and maintaining pigs.
"Nothing to see here, move along"
And again, there are plenty of wrong things in the world, this is not one of them.
I should clarify, as I was speaking in broad strokes: when I say subsidies to the pork industry, I also mean subsidies that indirectly benefit the pork industry. For example, corn subsidies to corn farmers reduce the cost of corn going toward livestock feed, which in turn lowers the cost of feeding pigs, as you mentioned.
The point of this picture ist that in the year 1962 everything was super cheap !COMPARED TO THE AMOUNT OF MONEY WE OWN TODAY! and therefor one should timetravell back there to get massive amounts of bacons.
It was not the goal of this picture to start a discussion about inflation and life standard of farm animals.
I would wager a guess that this does not account for inflation. From 1962 the inflation on $0.79 would be equal to around $4.89 today. More expensive. The premise of this was probably created by a youngin who has never heard of the term.
Well, even I have had the same thoughts way before. The price of some products may make you think about it in this manner, so that you could have stocked these products in advance in that lower price ranges, which is actually an illogical thought. more here