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The predictions of the 1950s were wrong because people chose more stuff over less work. Partially because of the rising cost of land due to concentrated demand
by TimPC 4y ago
The predictions of the 1950s were wrong because people chose more stuff over less work. Partially because of the rising cost of land due to concentrated demand leading to needing “more home” in wage adjusted terms. Labour saw gains from increases in productivity and this didn’t really decouple until 1999 after which it mostly didn’t.