The real price of nails fell by a factor of about 10 from the late 1700s to the middle of the 20th century, averaging a decline of about 1½ percent per year.
Nails, Pins and Light-Bulbs
The real price of nails fell by a factor of about 10 from the late 1700s to the middle of the 20th century, averaging a decline of about 1½ percent per year.