kersploosh@sh.itjust.works to Microblog Memes@lemmy.worldEnglish · 2 years agoThe true American social classessh.itjust.worksimagemessage-square64linkfedilinkarrow-up1781arrow-down145
arrow-up1736arrow-down1imageThe true American social classessh.itjust.workskersploosh@sh.itjust.works to Microblog Memes@lemmy.worldEnglish · 2 years agomessage-square64linkfedilink
minus-squareRobbity@lemm.eelinkfedilinkEnglisharrow-up8·2 years agoThis is known as the cost disease. As manufacturing gets increasingly optimized, automated and cheap, the share of income that needs to be spent on everything else increases. For example, housing and services like live entertainment or healthcare.
minus-squareDagwood222@lemm.eelinkfedilinkEnglisharrow-up6·2 years ago cost disease. I never heard of this before. https://en.wikipedia.org/wiki/Baumol_effect
This is known as the cost disease. As manufacturing gets increasingly optimized, automated and cheap, the share of income that needs to be spent on everything else increases. For example, housing and services like live entertainment or healthcare.
https://en.wikipedia.org/wiki/Baumol_effect