Comment by deeg
1 day ago
> A new car still costs around 13oz of gold
But a new car today is vastly different from a 1940s car, so different that it's nonsensical to use it to compare purchasing power of gold.
1 day ago
> A new car still costs around 13oz of gold
But a new car today is vastly different from a 1940s car, so different that it's nonsensical to use it to compare purchasing power of gold.
It's all about utility. So it does not really matter how better or worse cars are over time
That is a very interesting utility function
If you need to go 50 km away from where you live what functions the car has is irrelevant besides getting you there at the end of the day.
1 reply →
What is a 'car'? I don't know what a car is. Sorry. Is it a used Ford Bronco for $2000 or a Ferrari Purasongue for $450,000?
They have basically the same utility. What is a car?