kajarainbow (![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
kajarainbow) wrote2005-01-12 04:07 pm
kajarainbow) wrote2005-01-12 04:07 pm
Some food for thought...
Basically, this pdf file describes the decrease in time required to pay for various materials. It's an interesting demonstration of the changes of 'time prices' in acquired things.
It also makes an argument that large differences in wages are necessary to spur innovation, because only the rich can afford to buy new technologies, and it's the rich's purchases of the latest devices that gives businesses enough money to remain operating and refine their designs down to cheaper and cheaper ones, until the masses can afford previously enormously expensive luxuries. Very interesting.
But its use of average (mean) wage makes me wonder. I would like to see similar comparisons using median and mode wages, to get more of an idea of how much time large sections of the population have to spend to get all that stuff. The highest wages have gone up a GREAT DEAL faster in recent history than the lowest wages, which would bias averages toward the upper ends...
Nevertheless, good points about the important role of the wealthy in spurring technological changes.
It also makes an argument that large differences in wages are necessary to spur innovation, because only the rich can afford to buy new technologies, and it's the rich's purchases of the latest devices that gives businesses enough money to remain operating and refine their designs down to cheaper and cheaper ones, until the masses can afford previously enormously expensive luxuries. Very interesting.
But its use of average (mean) wage makes me wonder. I would like to see similar comparisons using median and mode wages, to get more of an idea of how much time large sections of the population have to spend to get all that stuff. The highest wages have gone up a GREAT DEAL faster in recent history than the lowest wages, which would bias averages toward the upper ends...
Nevertheless, good points about the important role of the wealthy in spurring technological changes.