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Making everything more expensive doesn’t actually trend towards egalitarianism, except in the limit case where no one can afford anything.
by philwelch 4y ago
Making everything more expensive doesn’t actually trend towards egalitarianism, except in the limit case where no one can afford anything.
- bryanlarsen 4y agoBaumol's effect doesn't make things more expensive, it makes them get cheaper at a slower rate than other things, so they only get more expensive relatively.