Minerals and Metals Became 2 to 427 Times More Abundant from 1904 to 2015.
galepooley.substack.com
The United States Geological Survey (USGS) tracks prices on a variety of minerals and metals ranging from aluminum to zinc. We have analyzed 43 of these items over a 111-year period from 1904 to 2015. The nominal prices were converted to time prices using blue-collar hourly compensation (wages and benefits) data from measuringworth.com. We found that all 43 items have become more abundant, ranging from a 119.7 percent increase for asbestos to a 426,145 percent increase for industrial diamonds. The median growth was around 831 percent, or 2.03 percent compounded annually.
Minerals and Metals Became 2 to 427 Times More Abundant from 1904 to 2015.
Minerals and Metals Became 2 to 427 Times…
Minerals and Metals Became 2 to 427 Times More Abundant from 1904 to 2015.
The United States Geological Survey (USGS) tracks prices on a variety of minerals and metals ranging from aluminum to zinc. We have analyzed 43 of these items over a 111-year period from 1904 to 2015. The nominal prices were converted to time prices using blue-collar hourly compensation (wages and benefits) data from measuringworth.com. We found that all 43 items have become more abundant, ranging from a 119.7 percent increase for asbestos to a 426,145 percent increase for industrial diamonds. The median growth was around 831 percent, or 2.03 percent compounded annually.