3 ms·
Houses are supply constrained not because they're expensive to build (there technology helped) but because it's incredibly difficult to be allowed to build, due
by nickpp 5y ago
Houses are supply constrained not because they're expensive to build (there technology helped) but because it's incredibly difficult to be allowed to build, due to... you guessed it - the countless rules and regulations.
There is a deficit of qualified nurses not only because it takes time and money to train one but also because you are not legally allowed to hire one even if you find it, without the necessary papers and certifications. More regulations!
So even if I agree with you - the human labor cost has increased and things dependent on it have become more expensive, the supply is artificially constrained by regulations as well.
Imagine if it was illegal to hire programmers without a certification from a government approved body. Would we still enjoy this explosion of incredibly cheap software in everything?