Gregory's Server
On the other hand, the decrease in cost to built a product also makes it affordable for more people.
For example let's have a look at household sewing machines. This ad [1] for the Singer "New Family" model puts the most basic model at $60, and these models were manufactured from ~1865–1900 [2]. The average wage in the US in 1870 was about $2.23 per day [3], so the machine cost about one month's wage.
[1]: https://ismacs.net/singer_sewing_machine_company/page1.html
[2]: https://ismacs.net/singer_sewing_machine_company/early_singer_history_new_family.html
[3]: https://fraser.stlouisfed.org/title/bulletin-united-states-bureau-labor-3943/september-1898-477571/wages-united-states-europe-1870-1898-498267?start_page=8
You can still get a used Singer "New Family" model for about $120 in today's money on eBay.
But for $350 you can also get a whole new sewing machine [4]. The difference is that today's average wages in the US have climbed to around $1000 per week [5], so you only have to work about three days to afford a sewing machine.
[4]: https://www.singer.com/machines/computerized
[5]: https://fraser.stlouisfed.org/title/monthly-labor-review-6130/june-2022-619258/wages-converging-2010s-expansion-633526?start_page=22
You can still get a used Singer "New Family" model for about $120 in today's money on eBay.
But for $350 you can also get a whole new sewing machine [4]. The difference is that today's average wages in the US have climbed to around $1000 per week [5], so you only have to work about three days to afford a sewing machine.