Proof Positive I Slept Through Econ 101



Stuart Immonen writes in:

I followed the link on CR to Rich Johnston's Comic Prices Inflation Index, and, while I appreciate his effort, found the execution subjective.

Typically, inflation is calculated as comparing one set period to the next (say, a year), and commodity prices are adjusted on a frequency to match. When one compares figures over a thirty year gap, the results are invariably skewed, especially when the initial price point is so low that an increase at the lowest possible increment (1 cent) represents a 3.3% jump. In other words, in 1977 dollars, comics are indeed priced astronomically.

When one calculates comic prices adjusted via the US Consumer Price Index (column 5) annually and compares actual prices from that year, it's plain that comics have kept pace with the CPI on a year-to-year basis. Columns 6 and 7 show two common ways of calculating inflation -- in many years (ie: those with no price change), the net increase is zero.

To be forthright about it, my figures are similarly subjective -- if comics only increased as per the CPI, there would never be 25% jumps as in '92/'93, but neither would there be years of no growth.

1977 $0.30 $0.30
1978 $0.35 $0.32 7.60% $0.32 16.67% 6.69%
1979 $0.40 $0.34 11.30% $0.39 14.29% 5.80%
1980 $0.40 $0.38 13.50% $0.45 0.00% 0.00%
1981 $0.50 $0.43 10.30% $0.44 25.00% 9.69%
1982 $0.60 $0.48 6.20% $0.53 20.00% 7.92%
1983 $0.60 $0.51 3.20% $0.62 0.00% 0.00%
1984 $0.60 $0.53 4.30% $0.63 0.00% 0.00%
1985 $0.60 $0.55 3.60% $0.62 0.00% 0.00%
1986 $0.65 $0.57 1.90% $0.61 8.33% 3.48%
1987 $0.75 $0.58 3.60% $0.65 15.38% 6.21%
1988 $0.75 $0.60 4.10% $0.78 0.00% 0.00%
1989 $1.00 $0.62 4.80% $0.79 33.33% 12.49%
1990 $1.00 $0.65 5.40% $1.05 0.00% 0.00%
1991 $1.00 $0.69 4.20% $1.04 0.00% 0.00%
1992 $1.00 $0.72 3.00% $1.03 0.00% 0.00%
1993 $1.25 $0.74 3.00% $1.03 25.00% 9.69%
1994 $1.50 $0.76 2.60% $1.28 20.00% 7.92%
1995 $1.50 $0.78 2.80% $1.54 0.00% 0.00%
1996 $1.50 $0.80 3.00% $1.54 0.00% 0.00%
1997 $1.50 $0.83 2.30% $1.53 0.00% 0.00%
1998 $1.50 $0.85 1.60% $1.52 0.00% 0.00%
1999 $1.75 $0.86 2.20% $1.53 16.67% 6.69%
2000 $1.99 $0.88 3.40% $1.81 13.71% 5.58%
2001 $2.25 $0.91 2.80% $2.05 13.07% 5.33%
2002 $2.25 $0.93 1.60% $2.29 0.00% 0.00%
2003 $2.25 $0.95 2.30% $2.30 0.00% 0.00%
2004 $2.25 $0.97 2.70% $2.31 0.00% 0.00%
2005 $2.25 $1.00 3.40% $2.33 0.00% 0.00%
2006 $2.50 $1.03 3.20% $2.32 11.11% 4.58%
2007 $2.99 $1.06 2.80% $2.57 19.60% 7.77%
2008 $2.99 $1.09 5.50% $3.15 0.00% 0.00%

Me again:

Here's a nice chart version of the above.

Okay, that makes sense. Rich is probably laughing his ass off, too. My bad, and an apology to both CR readers and Professor Handelman.

I have no idea what this chart means, really, both in the sense that numbers make me drowsy and because I still trust in the overwhelming feeling I share with many that a reasonable person might feel that comics made sense in 1977 and make less sense now. Not raging old-school comic fan sense, because there's no satisfying those people, but normal person sense. Like you buy a book or go to a movie and you may think about the price maybe 1 out of 20 times in crotchety old man fashion but you go to the comic shop and you buy three comic books for $10 and you're like "whoa" every time. Maybe there's a threshold at which things seem more expensive? Maybe it's a hang-up about comics? Maybe it's differences in technology changing the landscape for comparisons? Maybe it's the way comics unfold now? I don't know.

Also, please God, let Stuart's chart be right.
 
posted 10:00 am PST | Permalink
 

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