Interesting hypothesis about how social preferences might be holding down wages and decreasing labor force participation:http://kortina.nyc/essays/kinky-labor-supply-and-the-attention-tax/ …
Yeah video games aren't it. But what about social preferences?
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At 50 something it feels like social preferences have changed incentives. Instagram and FB make showing experience to friends a bigger deal than showing material wealth. So "image" is still too important but it's shifted to a more personally satisfiying focus, experiences.
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You mean their point (iv)? Wouldn't we see evidence that young men below the top 20% are saving more income after covering the expense of a cell phone and an ISP?
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