The Rising Influence of Rising Affluence

[OakesCS]

this is something that most Americans don’t get: they like to point to ‘free healthcare’ in other countries but don’t realize that things like milk cost 3x more in those countries. The cost differentials tend to work out to be roughly the same across developed countries but having ‘free healthcare’, cheap beer, cheap gas, cheap milk, cheap fruit.... is not something that is gonna happen.