kersploosh@sh.itjust.works to Microblog Memes@lemmy.worldEnglish · 23 days agoThe true American social classessh.itjust.worksimagemessage-square113linkfedilinkarrow-up1978
arrow-up1978imageThe true American social classessh.itjust.workskersploosh@sh.itjust.works to Microblog Memes@lemmy.worldEnglish · 23 days agomessage-square113linkfedilink
minus-squareRobbity@lemm.eelinkfedilinkEnglisharrow-up10·edit-222 days 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-up7·22 days 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