I recently read Steven Johnson’s fun new book “How We Got to Now: Six Innovations that Changed the World“. Of course, Johnson claims one of those six critical innovations is artificial light. Johnson references a very interesting study from Yale economics professor William Nordhaus: In 1994, Nordhaus studied the historic pricing of artificial light across the eons, as a way to normalize the buying power of a worker’s wage throughout history. In his paper “Do Real-Output and Real-Wage Measures Capture Reality? The History of Lighting Suggests Not“, he created a fascinating table of historic light pricing:
Has anyone updated this to current LED pricing/Haitz’s law?