kersploosh@sh.itjust.works to Microblog Memes@lemmy.worldEnglish · 1 month agoThe true American social classessh.itjust.worksimagemessage-square113linkfedilinkarrow-up1978arrow-down152
arrow-up1926arrow-down1imageThe true American social classessh.itjust.workskersploosh@sh.itjust.works to Microblog Memes@lemmy.worldEnglish · 1 month agomessage-square113linkfedilink
minus-squareRobbity@lemm.eelinkfedilinkEnglisharrow-up10·edit-21 month 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-up7·1 month 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