Prices and Money Supply :: essays papers

Prices and M atomic number 53y SupplyPrices, silver, knowledge, and technology may non have the appearance _or_ semblance that they should be together, but entirely of the terms connect in one category. Money is a big issue when talking about impairments in the past and present. Knowledge and technology argon important, too.Charts and graphs comparing prices of food and separate items flock be astonishing at what it brings forth. In 1915, the price of saccharide was at seven cents. Right now, if you go to your local grocery store, you enkindle find a loaf of bread for about a dollar. That is close to likely the lowest price available for a loaf of bread. The price has doubled fourteen times or has increased by 1328 per centum- startling.The per centum change in wages is not even close to the percent change of prices on foods. The minimum wage in 1938 was twenty-five cents at present the minimum wage is at $5.15. The percent increase is exactly 1960 percent. thither is a 500 percent difference in prices than wages. This means you can buy more items with the same amount of money today, than you could before. In 1910, the money supply was at 3,148,000,000 in 1994, it was at 371,466,000,000. The percent increase is roughly 11700 percent. As you can see, the percent increase of the money supply is greater than the percent increase of prices, 10372 percent larger. This is where knowledge and technology come in to play. applied science has increased greatly, therefore letting producing become more competent. Technology would not be possible without having knowledge which makes technology expand, helping companies all over the world. For example, the assembly line has lowered car prices greatly. It cuts the hours of making a car. Robots have been replacing mankind throughout the world. The reason for replacing humans with robots is that robots do not work for money they are programmed to run. This is only one of the many examp les of technology and knowledge used wisely. If knowledge and technology had not occurred, prices on all sorts of items would be multiplied. The example of the assembly line is correct for explaining this concept. Lets say robots were never made and humans are put in the robots position.