Inflation of basic income items
Joyce Park stashed this in Economics
Whenever we talk about anything involving a basic income -- whether today's concepts of minimum-wage jobs and welfare, or tomorrow's concepts of the gig economy and guaranteed minimum income -- we're also talking about what people REALLY NEED to just be living decently in the world. Turns out that the things that make old people crazy on Fox News -- welfare recipients have cable TV and buy fancy clothes! -- are far cheaper than they used to be, and therefore are rational decisions for the poor. The problem is that the truly important investments of life -- health, education, nutrition -- have become more expensive.
The interesting thing about this chart is that the MUST HAVEs keep getting more expensive.
But entertainment and technology keep getting less expensive.
What does that say about our society?
That we wish more industries behave like our entertainment and technology industries?