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if you were to life with only what was around at the time such productivity increases occurred - e.g., no internet, phone, and high speed computing, access to m
by chii 4y ago
if you were to life with only what was around at the time such productivity increases occurred - e.g., no internet, phone, and high speed computing, access to medical/transport improvements etc - you'd probably be able to live off minimum wage easily.
People worked more today because they desired more. In fact, the desire outstripped their ability to increase their wages!
- dmpk2k 4y agoThat is a common counterargument, and yet the common counter-counterargument matches my experience: That sadly doesn't apply to housing or food, at least in the places I've lived. E.g. houses in the place I was born are now 5x the price, once you factor in inflation. Food and vehicles are 2x. Higher education went from "free" to $30K. The really important things are far more expensive now, across the three countries I've spent decades in. Maybe the overall situation is different for the US of A.
- deleted 4y ago[deleted]