2 ms·
All models are wrong, but some are useful. We all know that efficiencies have driven down the cost of many manufactured goods (like TVs) and scalable services
by Msw242 4y ago
All models are wrong, but some are useful.
We all know that efficiencies have driven down the cost of many manufactured goods (like TVs) and scalable services (like ATMs and online banking)
We also all know that cost disease has driven up non-scalable services (healthcare, higher Ed, govt) and supply-constrained good/assets (price of land)
The basket is still useful for understanding whether an investment clears your hurdle :)
- Retric 4y agoI am not convinced things break down that simply. Healthcare is probably the best example of something that isn’t compared Apples to Apples across time. The cost of an X-Ray, cast, and some pain killers isn’t seeing nearly the cost increase those charts suggest.