Average price is of course nonsense, being measured as it is in fiat currency units of no intrinsic value and that have had almost all their purchasing power inflated away over time.
But, this got me thinking. We could instead measure it in something stable like gold. But while the gold price has been more stable over time, it has been so egregiously manipulated since Bretton Woods this only works over large spans of time. Back in Roman times a top quality toga cost about an ounce of gold. Today, about the same. There were however no loudspeakers in Roman times. So far as we know. (University courses teaching Critical Speaker Theory notwithstanding.)
In any case, there were such huge price moves (gold priced in FRN), from 1973 to the high in 1980, to the ridiculous low in 2000, speakers priced in gold moved all over the place.
Then it hit me, hours. Back when I was working minimum wage it took about 100 hours to buy my first pair of JBL. Now working x-ray it took about 100 hours to buy my Moabs. The VIX on hours is much lower. I would say the average is right about 100.
But, this got me thinking. We could instead measure it in something stable like gold. But while the gold price has been more stable over time, it has been so egregiously manipulated since Bretton Woods this only works over large spans of time. Back in Roman times a top quality toga cost about an ounce of gold. Today, about the same. There were however no loudspeakers in Roman times. So far as we know. (University courses teaching Critical Speaker Theory notwithstanding.)
In any case, there were such huge price moves (gold priced in FRN), from 1973 to the high in 1980, to the ridiculous low in 2000, speakers priced in gold moved all over the place.
Then it hit me, hours. Back when I was working minimum wage it took about 100 hours to buy my first pair of JBL. Now working x-ray it took about 100 hours to buy my Moabs. The VIX on hours is much lower. I would say the average is right about 100.