True, but the productivity of labor was much smaller in those days. It cost much more, in labor, to build a house in 1929.
As time goes by, the efficiency of labor, (higher productivity of labor), improves and pretty much offsets the increase in complexity.
Just look at flat screen TVs. In 2000, my 55" plasma cost $5500. Today a superior, more complex, 55" LCD can be had for under $500, not even considering inflation from 2000 to 2024.
True, but the productivity of labor was much smaller in those days. It cost much more, in labor, to build a house in 1929. As time goes by, the efficiency of labor, (higher productivity of labor), improves and pretty much offsets the increase in complexity. Just look at flat screen TVs. In 2000, my 55" plasma cost $5500. Today a superior, more complex, 55" LCD can be had for under $500, not even considering inflation from 2000 to 2024.