Thursday, December 20, 2012

"...the workers, though unconsciously, are instinctively more reasonable economists than the classical school..."

No one is arguing that technology didn't advance.

Mark J. Perry offers us Christmas shopping: 1958 vs. 2012, in which he compares the price of toasters, televisions, and music devices over time. He writes:

If you’re not convinced that today’s consumers are better off than at any time in history, spend some time browsing the old Sears, Wards, and J.C. Penney’s Christmas catalogs...

But can you imagine how bad things would be if technology didn't improve, and all the things that went wrong still went wrong?

The title of this post is something Keynes wrote.

And as for what I want to say to Mark J. Perry, well, as Leslie Winkle said to Sheldon Cooper: Dumb-ass.

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