Throwback Lesson: When Owning a VCR Was a Luxury
In 1985, the federal minimum wage was $3.35/hour. A brand-new VCR costs $400โ$1,200. That means the average person had to work between 119 and 358 hours - roughly 3 to 9 weeks - to buy one. Fast-forward to 2025: - Minimum wage (inflation-adjusted) โ $9.55/hour - That same VCR would cost $1,140โ$3,420. The number of work hours hasn't changed much. We've swapped VHS tapes for streaming, but purchasing power for everyday people? Still stuck in rewind. Discussion Prompt If you had to work 9 weeks to buy today's must-have gadget (say, a new iPhone or OLED TV), would you do it? Or would you wait, save, or skip it? Let's talk about how work hours reveal actual cost - not just price tags.