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by VHRanger
504 days ago
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Correct. This effect is known in economics since forever - new technology has - An "income effect". You use the thing more because it's cheaper - new usecases come up - A "substitution effect." You use other things more because of the savings. I got into this on labor economics here [1] - you have counterintuitive examples with ATMs actually increasing the number of bank branches for several decades. [1]: https://singlelunch.com/2019/10/21/the-economic-effects-of-a... |
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