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> Those jobs haven't really been more productive But their services aren't commodities. You're not paying a plumber to lay pipe. You pay a plumber to be in a d
by trgn 2y ago
> Those jobs haven't really been more productive
But their services aren't commodities. You're not paying a plumber to lay pipe. You pay a plumber to be in a dry house that doesn't smell like excrement. That value of course rises since demand rises. So of course, their labour value increases, since they're keeping the houses of a wealthier people free of odors.
The same with education. The value of an education is the entry cost to participate in a productive economy. Of course that value is higher in more productive societies. Why should cost of an education drop, if its value rises? Again, it's not interchangeable in a global market, education is not a commodity.
And I mean, imagine everybody's time in terms of cost of TVs to produce, not just those in unproductive industries. Isn't this just the effect of commodity prices dropping?
Thanks for the explanation though, it starts to trickle, but there's nothing unintuitive about cost disease to me. It's just, well yeah, duh.