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On the cost increases graph, As always, things that got cheaper are things that American import from other countries while things that got more expensive are th
by eunos 2y ago
On the cost increases graph,
As always, things that got cheaper are things that American import from other countries while things that got more expensive are things that you cant import and solely depends on American workforce, more or less.
So I found it very funny that right now there are more and louder voices on reducing trade deficits and bringing manufacturing backs. Well, are most folks ready to have the blacklines also becomes red? I have a huge doubt on that.
- deleted 2y ago[deleted]
- throwpoaster 2y agoPrices increase when there's low investment in capacity and should decrease when there's more.
- TeMPOraL 2y agoPeople need something to do, and you can complexify the already recursively self-referencial bullshit loops of finance, marketing and tech only so fast. Not to mention, the good jobs, like selling the ability to sell to sellers selling sellers the sales of things to sell (for whatever $things, it doesn't even matter at this point) - those are unavailable to most Americans anyway.
- oefrha 2y agoAccording to the unemployment is at historical low crowd, people apparently have more than enough to do. Never mind the puzzling reports from people actually looking for employment.
- ETH_start 2y agoThe things that got cheaper are primarily things on which the government imposes the fewest restrictions and provides the fewest subsidies. Incidentally, that includes most physically tradeable goods that are also easier to import. Let's look in more detail at the medical field for instance: There was a 3,200 percent increase in the number of healthcare administrators between 1975 and 2010, compared to a 150% increase in physicians, due to an increasing number of regulations: https://www.athenahealth.com/resources/blog/expert-forum-rise-and-rise-healthcare-administrator https://www.athenahealth.com/resources/blog/expert-forum-ris... >Supporters say the growing number of administrators is needed to keep pace with the drastic changes in healthcare delivery during that timeframe, particularly change driven by technology and by ever-more-complex regulations. (To cite just a few industry-disrupting regulations, consider the Prospective Payment System of 1983 [1]; the Health Insurance Portability & Accountability Act of 1996 [2]; and the Health Information Technology for Economic and Clinical Act of 2009.) [3] In contrast, the fields of medicine in the US less affected by this surge in government intervention; cosmetic and laser eye surgery, have seen prices increase at below the rate of inflation. [4] [1] https://www.cms.gov/medicare/payment/prospective-payment-systems https://www.cms.gov/medicare/payment/prospective-payment-sys... [2] https://www.hhs.gov/hipaa/for-professionals/privacy/laws-regulations/index.html https://www.hhs.gov/hipaa/for-professionals/privacy/laws-reg... [3] https://www.hhs.gov/hipaa/for-professionals/special-topics/hitech-act-enforcement-interim-final-rule/index.html https://www.hhs.gov/hipaa/for-professionals/special-topics/h... [4] https://healthblog.ncpathinktank.org/why-cant-the-market-for-medical-care-work-like-cosmetic-surgery/ https://healthblog.ncpathinktank.org/why-cant-the-market-for...
- pjc50 2y agoThat's the "Baumol cost disease" graph. Things which involve labour inputs get proportionally more expensive as manufactured goods get cheaper.