>Labor supply scans linearly if nothing else changes. Being that 100+ years ago people were not building computers, or making money producing minecraft videos,

>Labor supply scans linearly if nothing else changes. Being that 100+ years ago people were not building computers, or making money producing minecraft videos, or one of any number of tasks that may pay more than flourishing housing. You realize that that is Baumol's cost disease, correct? If you want to "debunk" my post, you should make sure you don't actually agree with it. >When you look at old buildings you're automatically starting with survivorship bias. Expensive and well kept old buildings tend to stay around a lot longer than buildings that were built cheaply at the time. Those have all been bulldozed. We are also using, for comparison, the most expensive buildings built today. Pointing out that we're comparing them to the expensive buildings from yesteryear doesn't make it an invalid comparison. It's not only tract houses that are ugly.