Oddbean new post about | logout
 Cars will be cheaper relative to hours worked, like they used to be. Measure prices in terms of hours worked - that's what honest economists (I am by training) do. Also, sound money incentivizes competition in terms of quality, so I expect cars will last a lot longer. And 3d printing raises the possibility of printing custom cars on demand, cheaply. It wouldn't be cheap right now, but it will be. In America, its hard for people to imagine living without a car, but in almost any other developed country, its no problem at all to use buses, trains, and cheap taxies (have to say cheap because they aren't cheap here). America will need to learn this magic, but it will be no problem to any other country. You should be glad, Gladstein - credit is the primary means of oppression. We're nuking it.