Why Agatha Christie could afford a maid and a nanny but not a car
The counterintuitive principle that explains the modern world.
Hasnain says:
This was an interesting economic perspective using an analog of systems thinking. I don’t fully agree with everything here (am not qualified to judge it all though) but the material resonated with me.
“Very few Americans have maids today because we don’t have a substantial labor force willing to work for a few thousand dollars a year. That in itself is a clear sign that living standards have risen substantially, even if reasonable people can disagree about exactly how large the improvement has been.”
Posted on 2022-01-26T03:52:45+0000