▲ | scrubs 3 days ago | |
Thank you for chart. I will reassess real income gains. I'd be lovely to have a chart on housing/rent, healthcare, and higher education to see if people had both higher income and expenses. Global trade as made consumer prices competitive in many things, but those are a big three. Nostalgia was not at root of my original comment. | ||
▲ | dotancohen 3 days ago | parent [-] | |
Global trade has made shippable commodities cheaper, so purely local expenses such as housing, healthcare, and education are relatively more expensive. Especially as inflation measurements include items from both categories. This is why many places in the world no longer produce enough food to feed their populations - refrigeration and cheap oil enable food to no longer be a local commodity. Education is sometimes headed in the same direction. But housing cannot be sourced anywhere but locally. |