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The cost of living is going to kill leisure for a large portion of the working class.
by deepfriedchokes 2y ago
The cost of living is going to kill leisure for a large portion of the working class.
- iancmceachern 2y agoNot just leisure, but simple rights of life. Not good.
- rufus_foreman 2y agoIt's called "Baumol's cost disease". Rising wages due to higher productivity are great for wage earners. Productivity growth isn't uniform though. A 2025 automated factory produces much more goods per worker than a 1925 factory. A 2025 barber doesn't cut hair much faster than a 1925 barber though. But wages tend to rise for the entire economy. So as productivity increases, labor for any sector that doesn't scale is going to become relatively more expensive. Ski resort labor doesn't scale. It's a first world problem.