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> Everyone ended up in the same position as before, but now they work 2x more Surely the extra people working produced more output (e.g. ~twice as many bugs fi
by avz 12y ago
> Everyone ended up in the same position as before, but now they work 2x more
Surely the extra people working produced more output (e.g. ~twice as many bugs fixed/year or ~twice as many new anti-cancer drugs/year). Supply of some things would remain constraint and their prices would be bidden up, but many others would have their supply increased and prices could even fall (e.g. due to capital costs spread over a larger number of units). We definitely have not ended up in the same position as before.
- cousin_it 12y agoSure, it's not the same position. Smartphones are getting cheaper. But how much do you spend on smartphones? The main argument is about things like housing and education, which don't seem to be getting cheaper.