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I'm skeptical: have wages skyrocketed across all skilled-work sectors with low productivity growth? Clearly not; see e.g. yoga classes. Additional features seem necessary: the goods/services aren't fungible with others & there are significant barriers to entry for providing them
This is consistent with Alex's huckleberry example; to most people, huckleberries & other berries are roughly fungible. As other berries become cheaper, it's reasonable to expect more people to eat those & price-insensitive consumers to buy *some* huckleberries at a high price
Show me a sector — *any* skilled sector — where productivity is flat(ish) AND there are minimal barriers to entry/enforced caps on entry AND there are alternatives to consumption that *aren't* under these same pressures... where costs have risen anywhere near so substantially.
US population increased ~20%, doctors ~ 33% over the last 20 years Economics would suggest that prices should fall, but they didn't. So either more need medical treatment and/or more complexity and cost for treatment and/or more regulation is behind it https://www.statista.com/statistics/186260/total-doctors-of-medicine-in-the-us-since-1949/ …
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