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Old 12-10-2018, 02:03 PM   #91
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With the $1 -> $8 comment, I suspect he was being sarcastic about robots decreasing prices.


But a cheeseburger and a drink are each on the dollar menu, so you can get both for $2. That's more than the less than $1 from the early days of McDonalds, but there's probably some point in the intervening years where a cheeseburger and coke cost more than $2.
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Old 12-11-2018, 04:23 AM   #92
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Quote:
1948
But the best thing about this menu has to be the prices. The most expensive item was the “Triple-Thick Shake,” which cost a whopping 20 cents. You could get a shake in Chocolate, Vanilla, or Strawberry (hence the “Triple” part of the name). If you wanted the milk without the shake, you could order a “Refreshing Cold Milk” for only 12 cents.

1960
In 1960 where I lived, it was also possible to get a large(r) soft drink for 15 cents in addition to the smaller one for 10 cents. Other than that, these prices are just as I remember them. The "All-American" meal was a burger, fries, and a shake for 45 cents (plus tax).

1963
35 cents for McDonalds hamburger, fries, and Coke in 1963.

1968
The Big Mac was added to the menu in 1968. You could buy it for about 49 cents.
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1975
The Egg McMuffin was added to the national menu in 1975. It sold for about 63 cents.
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Old 12-11-2018, 03:37 PM   #93
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Quote:
Originally Posted by Gravdigr View Post
But did the hamburgers get more expensive?
I don't mean since 1940, I mean since the $15 minimum wage went into effect.
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Old 12-11-2018, 09:22 PM   #94
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Quote:
Originally Posted by Gravdigr View Post
I hope that was sarcasm.
Obviously not sarcasm. The coke I once bought for a dime now cost over a dollar. That dime then is now called 90 cents. So the price of coke has increased (but not its cost).

That 63 cent Egg McMuffin is now called $3.10. So automation explains why Egg McMuffin prices have decreased.

When I was working for minimum wage in the early 1960s, that is about $13/hr today.
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Old 12-11-2018, 09:24 PM   #95
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Quote:
Originally Posted by Happy Monkey View Post
But a cheeseburger and a drink are each on the dollar menu, so you can get both for $2.
That is not the cheeseburger that was served back then. We are discussing retail prices - not the price of discounted loss leaders.
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Old 12-11-2018, 09:32 PM   #96
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That's right. If you are going to use a burger as an economic index, you have to use the Big Mac.
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Old 12-11-2018, 11:19 PM   #97
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Quote:
Originally Posted by tw
That 63 cent Egg McMuffin is now called $3.10. So automation explains why Egg McMuffin prices have decreased.
It's also worth noting, however, that automation must occur in bulk offsite in order to be cost-effective, which has only been made possible by the advent of chemical preservatives. If those chemical preservatives were eliminated--either through official safety regulations or general customer refusal--much of the automation trend would grind to a halt, as it were.
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Old 12-12-2018, 12:13 PM   #98
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Quote:
Originally Posted by tw View Post
That is not the cheeseburger that was served back then. We are discussing retail prices - not the price of discounted loss leaders.
What if I used a coup'n?
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Old 12-13-2018, 09:58 PM   #99
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What if I used a coup'n?
Use shillings. That is monopoly money. So it does not cost anything.
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Old 12-14-2018, 06:23 PM   #100
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Quote:
For example, using figures in July 2008:[5]

the price of a Big Mac was $3.57 in the United States (varies by store)
the price of a Big Mac was £2.29 in the United Kingdom (varies by region)
the implied purchasing power parity was $1.56 to £1, that is $3.57/£2.29 = 1.56
this compares with an actual exchange rate of $2.00 to £1 at the time
(2.00-1.56)/1.56 = 28%
the pound was thus overvalued against the dollar by 28%
Nice.
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Old 12-14-2018, 08:01 PM   #101
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In the paper, Amanda Y. Agan of Rutgers University and Michael D. Makowsky of Clemson University analyzed the effect of 200 state and federal minimum wage increases on 6 million people released from prison between 2000 and 2014. What they found was striking: Raising the minimum wage by $0.50 reduced the chance that a person would end up incarcerated within a year by 2.8 percent.
https://www.citylab.com/equity/2018/...divism/571948/
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Old 12-15-2018, 02:09 AM   #102
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minimum ain't enough...
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Old 12-15-2018, 10:28 AM   #103
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Nice.
That clearly says nothing about inflation. All this was discussed previously:
Would someone give me the short version of this basic economics question?
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Old 12-15-2018, 08:55 PM   #104
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If they had taken that $20 bill from 1998 and invested it instead of buying all that junk food, they might have been able to fill their cart now.
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Old 12-15-2018, 11:48 PM   #105
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They'd be real skinny too.
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