this post was submitted on 21 Apr 2025
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The amazing thing to me is that Disney used to be cheap entertainment. 1955 admission was $1.10 with rides costing 10 to 35 cents. A teenager could take a date there for what they'd earn in an afternoon. Prices for movies, sporting events, and concerts were similar.
This is known as the cost disease. As manufacturing gets increasingly optimized, automated and cheap, the share of income that needs to be spent on everything else increases. For example, housing and services like live entertainment or healthcare.
https://en.wikipedia.org/wiki/Baumol_effect