> it's sad that the cost of living prices people out from nice things

Cost of living can only go up if people are willing to pay more. People are paying more for what we deem living expenses because what they consider "nice" has changed.

In the past people would spend more on a diamond and less on a house because they were out and about all day and wanted others to see the diamond. Now, they stay home to scroll through TikTok (or post on HN), so they would rather spend more on a house instead.

If diamonds, or something like it, became more interesting to people again, they'll soon start turning their sending in that direction — away from where they are currently directing it.

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jxntb73 5 days ago | parent [-]

> Cost of living can only go up if people are willing to pay more.

, is the worst economic take i've heard in a while and I read the FT. CoL is primarily driven by supply and demand, not willingness to pay, not to mention inflation, supply chain issues, inelastcity...

Fake diamonds are for vegans.

	▲	9rx 4 days ago \| parent [-]
		> CoL is primarily driven by supply and demand, not willingness to pay Right. Supply and demand. Not supply alone. And demand is characterized by the willingness to pay. > not to mention inflation, supply chain issues, inelastcity... These are already encompassed in supply and demand. Why mention them twice? >[...] is the worst economic take i've heard in a while Maybe so, but given that, it is curious that, in the end, you decided to repeat the exact same thing in your own words. A "worst take" is usually taken to mean that you see things differently, not see things exactly the same.