Saturday, April 16

Right and Wrong

Daniel Starr's Will You Wait Twenty Years for Your Next Raise?, where he worries about the economy, although he notes
Back in England in the mid-1800s, an amateur economist looked at the historical data and observed, correctly, that the course of English economic growth had somehow made ordinary workers worse off: to take the crudest measure, an English peasant of 1700 could count on getting significantly more to eat than his descendant in 1840. As it happened, just at the time this fellow was writing a book on this apparently inevitable "immiserization" of the working class, things were changing around.
I hope Starr's as wrong as that amateur economist, but I hope he's right about this: Taiwan's Secret Weapon Against China: Cameras. Lots of Cameras.

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