Comment by amonon
2 days ago
This rings more true for me. Food simply used to be a lot more expensive.
"Between 1960 and 2000, the average share of Americans’ disposable personal income (DPI) spent on food fell from 17.0 percent to 9.9 percent." [1]
I am not going to look for a source right now but I would venture that since the 1960's were part of the industrial era that food was even more expensive before the creation of the Haber process and gas powered farm tools.
[1] https://www.ers.usda.gov/amber-waves/2020/november/average-s...
> I am not going to look for a source right now but I would venture that since the 1960's were part of the industrial era that food was even more expensive before the creation of the Haber process and gas powered farm tools.
You are correct that it used to be even higher. The US BLS estimates around 40% of DPI was spent on food at the turn of the century (1901). [1]
[1] https://www.bls.gov/opub/100-years-of-u-s-consumer-spending....