
Rationally Speaking #236 - Alex Tabarrok on "Why are the Prices So D*mn High?"
Rationally Speaking Podcast
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Is There a Distributional Aspect in the Economy?
If the world is actually getting better, I should be able to buy the same product that my parents had access to. So long as there's some differential productivity, it has to be the case that some prices rise. Now this can still mean relative to incomes, people are better off. But if your salary is sort of not keeping up, then it can feel like these things are becoming increasingly unaffordable.
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