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by johbjo
1892 days ago
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> last great booms we saw in the States The exact same booms were seen all over the world. It's probably due to innovation and sharply falling energy prices (oil, hydro and nuclear.) A boom the 90s is probably attributed to IT-productivity, but mostly sharply falling labour prices due to Chinese manufacturing. Overall, booms are probably due to falling prices in input factors. Subsidies alone just leads to increasing prices. Next boom probably happens when AI can replace menial jobs. |
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