A helpful summary (I hope): Dowwie: Let's all just get paid more! apsec112: Just paying everyone more when everyone buys things in inelastic markets like hous

A helpful summary (I hope): Dowwie: Let's all just get paid more! apsec112: Just paying everyone more when everyone buys things in inelastic markets like housing doesn't make anyone richer. This can be observed empirically with two-income households in 1975 vs today; people pay more today for the same thing they had in 1975. alasdair_: Houses are bigger today (perhaps he meant to imply that actually we all are richer today because we're actually paying more for something better) apsec112: A small number of houses today are bigger, but most people live in old houses that aren't any bigger; IOW we are paying more for the same as what we had in 1975. blackguard: Old houses are ok too! (yes they are, but that's not germane...)