4 ms·
For most goods, it's the opposite -- over the last decades, luxury goods have inflated faster than staples. Similarly, real incomes have increased faster for hi
by xapata 8y ago
For most goods, it's the opposite -- over the last decades, luxury goods have inflated faster than staples. Similarly, real incomes have increased faster for higher incomes. At least, that's what the last paper I read on the topic said, which was published about 8 years ago.