In 1972 you could buy a new car for $4,500. Today that same car would cost over $22,000.
A loaf of bread $.25, a gallon of gas $.36, and so on. The purchasing power of one 1972 dollar equals $5.21 in 2010 dollars.
If my math is correct, in 39 years inflation has increased by over 500%, yet a laborer’s wages have only increased by 63%.