a previous mises post states from an article
"In an online debate with the Atlantic's economics writer, Megan McArdle, Shell observes with disapproval that, when prices are adjusted for inflation, Americans today spend '40% less on clothes, 20% less on food, more than 50% less on appliances, about 25% less on owning and maintaining a car'than they did during the early 1970s. Over that same period, Census Bureau tables show, US median household income rose by at least 18% in constant dollars . . ." if true???
http://blog.mises.org/archives/010741.asp#c604991
to me, on the surface, this seems like a positive outcome. unless they are leaving out something.
i am not sure how much funding from (what i have been told) bank credit goes into major industrial endeavors...the type that can rapidly increase production or speed up the flow of information in a way that increases knowledege and or acces to vital materials...in a cheaper way.
would a 100 percent reserve baking paragigm with credit being what i seen described a 'true credit'..(h. browne, how to profit from...)(.the crediting of money not claims to money) have negative effect or not produce the price reductions described in the excerpt above?
has that ever been established?