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On investigation I see he also opines at length on economics and politics, also outside his expertise. My own equally-qualified opinion is that we don't have f
by tuatoru 6y ago
On investigation I see he also opines at length on economics and politics, also outside his expertise.
My own equally-qualified opinion is that we don't have flying cars primarily because we don't want them very much.
As people richer they spend an increasing share of their income on services (e.g. eating takeout instead of making our own food), on intangible positional goods, such as living in sought-after neighbourhoods (sometimes in worse material circumstances) and wearing fashionable clothes (which are often poorer quality than no-name equivalents), and on seeking to control the behaviour of others (e.g. homeowner associations in the USA).
- njarboe 6y agoMy own equally-qualified opinion is related to a comment above on the great increase of lawyers and lawsuits. Basically anything that can kill a person that was not already invented by 1970 gets sued into oblivion. Medical devices are a bit of an exception and even they are very expensive due mainly to liability costs.
- tuatoru 6y agoGood point! A fourth thing that affluent people spend their income on is protecting what they have. So, insurance of all kinds, security, lawsuits, ...