3 ms·
Productivity is up ~3x since 1970, but the car price has gone up 25x. It is driven by the massive increase in features/complexity on cars, and that means it wil
by WillPostForFood 8mo ago
Productivity is up ~3x since 1970, but the car price has gone up 25x. It is driven by the massive increase in features/complexity on cars, and that means it will cost a bigger percentage of income. There is no possible redistribution of gains that would have driven income up 25x to match the car prices.