cato institute: Cato Institute
 E@Catolnstitute
 CATO
 INSTITUTE
 Between 1954 and 2014, the
 cost of a TV fell 98.5%--for a
 significantly better product. That's
 progress! j.mp/2JB795Z
 1954 15" color TV vs. 2014 50" HDTV
 1954 price: $1,000
 1954 avg. hourly wage: $1.97
 Hours needed: 508 hours
 2014 price: $218.
 2013 avg. hourly wage: $27.92*
 Hours needed: 7.8
 Reduction: 98.5 percent
 Sam Pritchard ◆
 @thucydiplease
 Now do rent