How do you think this compares to the costs of acquiring or building F1 cars and fielding a team for a season in say.. 1962?
I don't have that data readily at hand, but I recall some numbers quoted in Mark Whitelock's book 1 1/2 Litre Racing 1961-1965, Low Power High Tech that suggest the figures back then were fairly modest (and would be, even when adjusted for inflation).
So... The only three areas where the costs have risen at 2 -3 to ? knows how much more than the rate of inflation are:
Post by Andrew Rowland on Jul 25, 2012 16:11:26 GMT -5
Nice thread Mark
Mine though would currenrly read: a) higher education b) CHILD CARE (here medical care is free) Nappies / Daipers seem to be costing me more than slot cars.... c) F1 Racing d) slot cars (I seem to spend a fairly obscene amount of money on them!)
Post by Mark Huber on Jul 31, 2012 12:27:58 GMT -5
It seems that costs associated with major sporting events, whether it be F1 racing, the Olympics or most professional league sports (I'll stick to North America as a certainty) have certainly escalated at rates well beyond the general rate of inflation.
So sports takes it's place alongside higher education, health care (in certain markets) and nappies as things that are really, really expensive now.
I could have added Investment Bankers to the list (I'm only a lowly commercial banker).
The $0.03 stamp in 1953 would be $0.26 in 2012, the $0.05 Coke from the vending machine would be $.43, and the $1,100 college costs would be $9,439 instead of $50K (how about $60K?) plus.
So, while the USPS is ratcheting up the First Class Postage rates at a % greater than the CPI (and still losing money) and Coca Cola is doing the same thing (and making money), I think the award for escalating still goes to higher education.
To return to slot cars (if not necessarily scratch built cars!):
A Strombecker home racing set (40 feet of track, two cars, transformer) cost $39.65 in 1966 or $280.37 in 2012 dollars.