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Sure, I benefit that a washing machine costs $600 instead of $6000. That benefit is small in comparison with if my yearly income would be double. In almost all
by carlosjobim 2y ago
Sure, I benefit that a washing machine costs $600 instead of $6000. That benefit is small in comparison with if my yearly income would be double. In almost all possible scenarios, higher wages are better than cheaper goods. You cannot improve your economic situation by purchasing cheap consumer goods, but you can do it with higher income.
- s1artibartfast 2y agoSure, but $600 washing machines for 300 million Americans is a hell of a lot more benefit than your one income.
- carlosjobim 2y agoAnd double yearly income for 150 million working Americans is a hell lot more benefit for them than the $600 washing machine.
- s1artibartfast 2y agoIndeed. And we should absolute pick that if we are presented with those two options.
- carlosjobim 2y agoAll market effects are exponential. Of course a doubled salary is unrealistic, but not ridiculous. The generation of people who are elderly today, had more than double the salary of anybody who is a worker today. Yes, they had more expensive consumer goods, but they could instead afford the important things: land, houses, vehicles and have a surplus to invest.