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I echo Andrew Larson's comment: If everything costs less why are we working so much more? It seems that, for most people I know, it takes 2 wages earners in the family to stay afloat, whereas a generation or two ago most families got by with a single wage earner. It seems that we are working harder and longer and only getting more deeply in debt. This paradox - cheaper products, requiring less work hours to obtain, and yet the mass of people falling deeper into debt - needs to be explained.
Toggle Commented Feb 9, 2011 on Are We Better off Today? at Coordination Problem