Re:Supply and Demand Does a Poor Job of Explaining Depressed...
by toomuchtodo on Friday April 06, 2018 @02:06PM
(#16775666)
It should be noted that Australia has a healthcare system substantially more equitable than the US, making the price of discretionary goods and services less of an issue. Real estate, education, and healthcare inflation is a thing (despite the price of TVs and tech coming down year after year) in the US (although I am aware of the steep cost of real estate in AU and NZ due to foreign buyers).
"Australia has a one of the strongest economies in the developed world. It survived the recent recession unscathed and hasn’t had a real recession in 20 years. And as Australian academics have noted, "Australia and New Zealand, with among the highest minimum wages in the world, have both low levels of unemployment and significantly lower levels of low paid employees.
Bankruptcies due to medical costs, which accounted for 60 percent of U.S. bankruptcies before the Affordable Care Act, are completely unknown there."
"Australia has a one of the strongest economies in the developed world. It survived the recent recession unscathed and hasn’t had a real recession in 20 years. And as Australian academics have noted, "Australia and New Zealand, with among the highest minimum wages in the world, have both low levels of unemployment and significantly lower levels of low paid employees.
Bankruptcies due to medical costs, which accounted for 60 percent of U.S. bankruptcies before the Affordable Care Act, are completely unknown there."
https://www.usnews.com/opinion/blogs/laura-chapin/2014/12/09...