The End of Retirement (2014)

Re:The End of Retirement (2014) by bluGill on Thursday May 20, 2021 @08:49AM (#27220428)

None of those expenses are fixed. When people earn more money they spend it on more expensive houses, better education, high quality childcare (read education), and better healthcare. The amount of money you make at minimum wage would fund a nice lifestyle in 1700 - inflation adjusted. The "bathroom" would be an outhouse and a bucked of water you heat on a fire. You wouldn't have even a beat up old car to drive.

There is no visible end in sight to this trend.

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Re:The End of Retirement (2014) by dredmorbius on Thursday May 20, 2021 @09:40AM (#27220965)

Law of Rent and Iron Law of Wages say otherwise.

Read Smith.

Book I, Chapter 8, beginning "There are certain circumstances, however, which sometimes give the labourers an advantage" and through to "The scanty maintenance of the labouring poor, on the other hand, is the natural symptom that things are at a stand, and their starving condition that they are going fast backwards."

https://en.wikisource.org/wiki/The_Wealth_of_Nations/Book_I/...

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Re:The End of Retirement (2014) by bluGill on Thursday May 20, 2021 @10:16AM (#27221363)

The subject does have a lot of complexity that doesn't fit in a comment box. My point stands in general, but it gets complex.

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Re:The End of Retirement (2014) by dredmorbius on Thursday May 20, 2021 @11:10AM (#27222151)

Among the reasons I threw the book at you.

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Re:The End of Retirement (2014) by bluGill on Thursday May 20, 2021 @01:15PM (#27223991)

I know, I've read the book, my comment is right out of it.

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