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The article seems to answer the question right up front. > as we’ve gotten richer and built more technology, we’ve developed a machine not for ending our wants, not for fulfilling them, but for generating new ones, new needs, new desires, new forms of status competition. > You can’t solve the problem of scarcity with our current system because our current system is designed to generate endlessly the feeling of more scarcity within us. It needs that. And so we keep working harder and harder and feeling like we have less and less, even amidst quite a bit of plenty, at least, for many of us. |
But that's baloney. A 3BR average home in my city is now 6x median income, and that's with average households being 2 full-time workers instead of 1. And this isn't some 3k sq ft McMansion - another common strawman - it's the same dumpy house that a single earner easily afforded at 3x salary 40 years ago.
All the other big-ticket items that I spend 80% of my salary on have increased at similar rates.
A lot of Americans do overspend and are obsessed with keeping up with the Jones. You realize that when you go to the grocery store and 1/2 the cars in the parking lot are $50k SUVs and gigantic pickups.
But even if you're a modest person making $50k a year in a medium COL city, the cost of the new Iphone or flat screen TV you bought is inconsequential to the expenses you can't avoid - housing, health care, education, transportation, etc. All of these have almost doubled in price relative to the income of a single full time worker in the last four decades.