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by old-gregg
4521 days ago
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Very true, that's why I say "perhaps... some things". While technology may have worked well for food, I just don't see how this can be applied to housing, education, healthcare, legal expenses and taxes [1]: these tend to expand/shrink based on how much money you have and "pin" the poor to a certain "ceiling" of disposable income leading to the perpetual hand-to-mouth cycle despite encouraging growth of metrics like GDP/capita. [1] This BTW may explain why new middle class in emerging economies tends to consist of real estate people, doctors, lawyers and (true in ex-USSR countries) government bureaucrats: they get to benefit from growing GDP first. |
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