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I don't agree: having more stuff makes people's lives better even if that doesn't show up in terms of real wages.
by slibhb 3y ago
I don't agree: having more stuff makes people's lives better even if that doesn't show up in terms of real wages.
- TeMPOraL 3y agoNot if they can't afford the basics, though. Another way of framing the problem GP is pointing out is: necessities are getting increasingly expensive relative to trinkets and niceties.
- midasuni 3y agoNo it doesn’t. If I spend $100 on takeout because I don’t have time to cook a fresh meal that increases gdp but makes my life worse.
- smolder 3y agoIt very much depends on what stuff you're talking about. Consumption and QoL are only loosely correlated. If we have a culture that values status signalling, everyone may might work harder to afford status signalling without any real benefit to their quality of life. Efficiency of consumption matters. The relationship between dollars spent to degree of life improvement is nowhere close to 1:1. Some purchases pay dividends in that sense while others come with hidden costs and fleeting benefits.