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Which came first, the high cost of living or the sky high tech salaries. I would guess that they co-evolved in a vicious cycle of inflation. But I know very li
by 20after4 5y ago
Which came first, the high cost of living or the sky high tech salaries.
I would guess that they co-evolved in a vicious cycle of inflation. But I know very little of economics.
- zozbot234 5y agoThe high cost of living is the outcome of sky-high productivity in the relevant industry, plus congestion (e.g. lack of new housing) that makes it impossible for the industry to grow in place. That's how local people become a scarce factor and their compensation gets inflated.