Wednesday, May 12, 2010
Cost of Living(1774-2007)
I think this is a good visualization of the cost of living. It's a little outdated, but 2007 is close enough for us to get an idea of what the cost of living is like today. I found the first graph interesting because it shows both the inflation rates and deflation rates in the United States since the U.S's birth. We can compare the rates year by year, and with extra information, we can change what we're doing today so that our inflation or deflation rate in the future stays stable. The second graph gives us an idea of what it would be like to live in 1774 with 2007's inflation rate. Basically in 1774, we could have more than survived on $100. The graphs don't represent changes in the standard of living though, only the cost, as standards are subjective to everyone.