alt Hacker NewsThere are a thousand medicines that have experienced literally infinite deflation over 50 years: not available at any price to having a finite price. GLP-1s, Trikefta, Mavyret, Checkpoint inhibitors to name just a few recent blockbusters. People complain about insulin prices, but the insulin from 50 years ago costs 25-50 $/mo (https://www.walmart.com/cp/relion-insulin/8418641), it's the new stuff that wasn't available 50 years ago that's more expensive.
Spending on food as a percent of income has declined significantly (~30%) over the past 50 years: https://ourworldindata.org/grapher/food-expenditure-share-fa.... The decline has flatlined over the past ~20 years, but at least some of that is affluence meaning we choose to eat out instead of cooking at home.
House spending as a percent of income also seems to have declined over the past 50 years (https://economistwritingeveryday.com/2023/04/26/spending-on-...). To be honest, this one surprised me, I would've bet the other way.
> There are a thousand medicines that have experienced literally infinite deflation over 50 years
There are always individual counterexamples. And yet as a whole the cost of healthcare has exploded.
> at least some of that is affluence meaning we choose to eat out instead of cooking at home
A lot of that is poverty, not affluence. People working two jobs and living in food deserts aren’t cooking a lot of meals at home. It’s expensive being poor.