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I do wonder about that sometimes. It doesn't seem to be discussed much. On the one hand inflation-adjusted GDP is 5x higher than the 60's (https://www.multpl.c
by ip26 7y ago
I do wonder about that sometimes. It doesn't seem to be discussed much.
On the one hand inflation-adjusted GDP is 5x higher than the 60's (https://www.multpl.com/us-gdp-inflation-adjusted https://www.multpl.com/us-gdp-inflation-adjusted) so even if the workforce doubled the pie got much larger.
On the other hand markets like real estate have somewhat inelastic supply and higher household incomes as a result of dual earners might just bid up prices.
- thewarrior 7y agoElizabeth Warren wrote a book about this called the Two Income Trap. It’s a shame for someone who’s not an American that America has deep thinkers like Warren in politics but people like Trump and GW Bush become president.
- zarkov99 7y agoIts is even sadder that intelligent, good people like Warren lack the moral fortitude to be themselves and instead resort to populist bullshit in the hopes of winning the nomination. And now we are left with the saddest field in American election history.
- malandrew 7y agoYou should have just stopped after the first period and this would have been a good comment. The Two-Income Trap is a great book, but the Elizabeth Warren that published that book in 2004 is not the Elizabeth Warren that ran for president this year. She is a wholly different person today. She's become very populist and political and shed the academic rigor.
- pdelbarba 7y agoWhat positions do you feel are both populist and bad?