Price Comparisons Vision of Prices

Price Comparisons

"VISION" of PRICES FROM 1986 COMPARED to 2007

Christopher Wren, one of the greatest of English architects, who walked one day unrecognized among the men who were at work upon the building of St. Paul's cathedral in London which he had designed. "What are you doing?" he inquired of one of the workmen, and the man replied, "I am cutting a piece of stone." As he went on he put the same question to another man, and the man replied, "I am earning five shillings twopence a day." And to a third man he addressed the same inquiry and the man answered, "I am helping Sir Christopher Wren build a beautiful cathedral." That man had vision. He could see beyond the cutting of the stone, beyond the earning of his daily wage, to the creation of a work of art -- the building of a great cathedral. And in your life it is important for you to strive to attain a vision of the larger whole." Louise Bush-Brown (1896?-1973) (Respectfully Quoted)

Historic Prices

Prices for five products in the year 1986 include the following:

Hershey Bar: 1.45 oz - 40 cents; 1.65 oz cents. (historic food prices)

Pepsi: $.89 for a 2 liter bottle (historic food prices)

McDonald's hamburger: 43 cents (historic food prices)

In 1986, the price for regular unleaded gasoline averaged 93 cents per gallon ("Shades of 1986?" B02; Andelman)

Mac Plus by Apple: $2,600, this particular computer contained one MB of ram. (Computer history)

The federal minimum in 1986 was $3.35. (Federal Minimum Wage Rates)

Part 2: Current Prices (2007)

Prices for five products in the year 2007 include the following:

Hershey's Milk Chocolate Bar: 1.55 oz: $. 75

Pepsi: $.99 for a 2 liter bottle (Daily Newspaper Ad)

McDonald's hamburger: 99 cents (McDonald's menu)

Price for regular unleaded gasoline averages $2.75 per gallon (Personal observation)

Apple Computer: -2.8GHz Intel Core 2 Extreme; 2GB memory; 500GB hard drive, etc.: $2,299.00 (Apple Store)

The federal minimum in 2007 is $5.85 (Federal Minimum Wage Rates)

Part 3: Comparisons

Regarding the change in quality over the past 21 years:

Hershey's Milk Chocolate Bar: Maybe.

Pepsi: $.99 for a 2 liter bottle: Maybe.

McDonald's hamburger: No.

Unleaded gasoline: Yes

Apple Computer: Definitely.

Technological has affected quality of these products?

Hershey's Milk Chocolate Bar: Maybe. Upgrades in equipment that contribute to saving time, may potentially adversely affect quality, as with time savings, company may allocate increased responsibilities to employees.

Pepsi: $.99 for a 2 liter bottle: Maybe. Same reasons given for Hershey's Chocolate Bar.

McDonald's hamburger: Maybe. Same reasons given for Hershey's Chocolate Bar and Pepsi.