More on the Baumol effect, from @ATabarrok, fascinating graphs showing the rising price of shoes/clothing and car repair, relative to the cost of new shoes/clothing or new cars.pic.twitter.com/9xmUz3Pbiy
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Rereading the above: you're probably right! I was very surprised by that NZ study, and probably over-cautious as a result...
that’s interesting. though thinking of things like new cars and fast cheap fashion it’s rarely a better deal for the environment to constantly be replacing these things. the most environmentally-friendly car is often not a Prius, it’s a used car.
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