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The Steep Climb of Bicycle Abundance

Blog Post | Cost of Material Goods

The Steep Climb of Bicycle Abundance

Entry-level workers can get 20.9 bicycles today for the time it took to earn one in 1910.

Summary: The bicycle, once a costly luxury, has become a symbol of how innovation transforms scarcity into abundance. What began as a marvel of mechanics in the 19th century is now affordable to nearly everyone, thanks to rising productivity and human ingenuity. Over time, free markets and technological progress have multiplied access to tools of freedom and mobility.


In 1885, John Kemp Starley invented the modern bicycle with two wheels of the same size and a rear wheel connected and driven by a chain. Interest in the new innovation exploded. By the 1890s, Europe and the United States were in the midst of a bike craze. A New York Times article from 1896 gushed that “the bicycle promises a splendid extension of personal power and freedom, scarcely inferior to what wings would give.” Long before their first flight in 1903, the Wright brothers were mastering gears, chains, and balance as talented bicycle mechanics and designers.

In 1910, you could buy a basic bicycle for $11.95 from the Sears, Roebuck, and Co. catalog. This sounds like a low price until you realize that entry-level, unskilled wages were $0.11 an hour. This means that it would have taken 108.6 hours to earn the money to buy one bicycle. Today, you can buy a basic bike at Walmart for $98, and entry-level limited food service workers wages are $18.75 per hour, indicating a time price of 5.2 hours. The time price has fallen 95.19 percent. For the time required to earn the money to buy one bicycle in 1910, you get 20.9 today. Personal bicycle abundance has increased 1,990 percent.

This astonishing increase in bicycle abundance occurred while the global population increased 369 percent, from 1.75 billion to 8.2 billion. Every 1 percent increase in population corresponded to a 5.4 percent increase in personal bicycle abundance. It’s as if all the new people brought their own bicycle as well as extra bicycles to share with everyone else.

When human beings are free to innovate, they turn scarcities into abundances.

Find more of Gale’s work at his Substack, Gale Winds.

The Housing Frame | Housing

US Housing Market Shows Signs of Recovery After 2022 Slump

“Here’s the state of play for housing heading into the latter part of 2026. The two weakest states coming into the year – Florida and Texas – have signs of life. In Florida, inventory is down and sales are up. In Texas, inventory is stable and Austin is quickly getting “less bad.”

Nationally, inventory levels are stable. There are still fewer homes for sale now than there were prior to the pandemic. Most of the North and Midwest never even had a slump and still don’t have enough homes. The rise in mortgage rates is holding back improvement but generally not making conditions worse.

Both homebuilders and apartment managers showed more optimism this quarter than they have in years. Builders have reason to believe incentives have finally peaked and profit margins have bottomed. For apartments, occupancy is up and there’s no glut of supply coming any time soon.

And at the high end of the market, stock market wealth means it doesn’t matter where mortgage rates are.

But pockets of weakness remain. Cities like Seattle are still struggling. The entry-level market remains tough. Some metros and submarkets have a glut of inventory. Affordability obviously remains challenging for people who aren’t already rich.

But the housing recession that began in early 2022 is over.”

From The Housing Frame.

FLYING Magazine | Air Transport

Electric Aircraft Help EMS Reach 911 Calls Faster

“Quinn Reece, a paramedic with Hyde County Emergency Medical Services (EMS) in North Carolina, is not your average first responder.

Recently, Reece responded to a 911 call about 20 minutes faster than an ambulance. The seemingly impossible feat was enabled by a unique aircraft that lifts off vertically like a helicopter but tilts forward to fly on fixed wings…

The BlackFly’s pilot controls—comrpising a joystick, digital displays, and fly-by-wire system—are designed to be simple enough that a new pilot could master them within weeks or days. Pivotal said Hyde County paramedics completed more than 300 training and proficiency flights before Reece used the BlackFly to respond to real emergency calls under public aircraft operations (PAO).

The partners believe Hyde County is first in the nation to deploy eVTOL aircraft for real-world EMS. Officials dispatched the BlackFly for two calls, allowing Reece to begin advanced life support (ALS) while she and the caller waited for an ambulance.”

From FLYING Magazine.

Air Cargo Week | Health Systems

Drone-Delivered AED Used in Cardiac Arrest Response

“An automated external defibrillator (AED) delivered by Everdrone’s drone system was used in response to a confirmed out-of-hospital cardiac arrest involving a man in his 60s in Borås, Sweden, on 19 July 2026…

The drone flies autonomously to the emergency location and delivers the AED by lowering it on a winch from an altitude of approximately 30 metres. In suspected cardiac arrest cases, the drone is dispatched automatically in parallel with the ambulance. Photo: Everdrone AB

Following an emergency call to SOS Alarm, the drone was dispatched from its local base in Borås and delivered the AED directly to the scene prior to ambulance arrival. Bystanders immediately started CPR and attached the AED with guidance and support from the emergency dispatcher. The AED analysed the patient’s heart rhythm, and a defibrillation shock was delivered. The subsequent medical response was provided by the ambulance service and the other emergency responders.”

From Air Cargo Week.

PR Newswire | Health Systems

Drones Bring Whole Blood to Trauma Scenes

“Tampa General Hospital (TGH) today announced the launch of the nation's first EMS-driven drone delivery program for pre-hospital whole blood delivery. The initiative will decrease the amount of time needed to deliver lifesaving blood directly to the scene of traumatic injuries, offering patients a better chance at survival.

The emergency drone logistics systems and services are provided by Archer First Response Systems and operated by Hillsborough County Fire Rescue. When a 9-1-1 call involves an incident with severe blood loss, dispatch will direct emergency responders to the scene who can simultaneously call for deployment of a drone equipped with whole blood. The two drone systems are expected to cover a combined 70-square-mile area, delivering the lifesaving blood to the scene in under three minutes on average. First responders can begin transfusions, if needed, immediately on scene, well before the patient arrives at the hospital.”

From PR Newswire.