tag:blogger.com,1999:blog-775967109474059335.post3984966453480428760..comments2023-11-13T00:52:34.306-08:00Comments on Kevin On Investing: Wedding Costs: 1974 vs. TodayUnknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-775967109474059335.post-32888028314524870532012-07-06T18:02:48.545-07:002012-07-06T18:02:48.545-07:00Trusted Financial,
Thanks for the comments.
I...Trusted Financial,<br /><br />Thanks for the comments.<br /><br />I'm skeptical of your claim that labor costs generally rise more than the CPI. The CPI includes services (labor-intensive) as well as goods; and services account for about 70% of US GDP. Also, if labor costs consistently rose more than the CPI, that would mean that average real incomes have been continuously increasing, and I don't believe that's the case.<br /><br />I don't think the reason medical costs have risen faster than general inflation is because of hands on labor. I think it's much more related to the high cost and widespread use of new, expensive medical technology.<br /><br />Anyway, good to hear your point of view.<br /><br />KevinKevinhttps://www.blogger.com/profile/03576910288369216955noreply@blogger.comtag:blogger.com,1999:blog-775967109474059335.post-82195088821665645432012-07-06T16:15:06.886-07:002012-07-06T16:15:06.886-07:00Nice and thought provoking. However, consider that...Nice and thought provoking. However, consider that a Wedding has a high labor component and cost of labor generally rises more rapidly than that for things like automobiles, furniture, food. I don't have a current source specific to weddings cost inflation but consider that medical cost inflation rises at about twice the rate of general inflation, largely due to the fact that it requires hands on labor and that the medical industry has not gained in efficiency as much as the general population (my doctor only began computerizing client records about two years ago!Trusted Financialhttps://www.blogger.com/profile/10026337068137423502noreply@blogger.com