Re: Help with a Minimum Wage Model

From: Lee Daniel Crocker (lee@piclab.com)
Date: Thu Apr 10 2003 - 17:19:13 MDT

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    > >for goods comsumed. I have a single 40-hr/wk desk job, no
    > >significant outside income (a poker tournament win or two), and
    > >I can afford to live alone in a three-bedroom house with all
    > >the latest cooking and entertainment gadgets, a three-computer
    > >network, plenty of food, good wine, full medical coverage, a
    > >
    > ...
    > What state are you living in? My experience has been that housing
    > expenses have been climbing at a truly fantastic rate. Far faster
    > than inflation accepts. Now I'm not renting, so I'm not directly
    > affected, but 10%/year raises in rent aren't unheard of. Without
    > improvements. Mind you, I live in the SF Bay area, so I wouldn't
    > expect this to match most observations. But it's unreal.

    Yes, I probably would have a somewhat lower standard of living in the
    Bay Area, and probably couldn't afford to buy a house. I live in
    Sacramento, about two hours away. The salaries aren't as good, and
    housing is still higher than most of the country, but it's not totally
    insane like SF. When I did live there, I shared a nice two-bedroom
    apartment in Los Gatos. But I don't think that affects my main
    point: for the most part, I am much wealthier than a man of similar
    skills and effort would be in 1970. For another data point, consider
    the fact that I'm a college dropout. There would have no way for me
    to have anywhere near my current standard of living in 1970.

    -- 
    Lee Daniel Crocker <lee@piclab.com> <http://www.piclab.com/lee/>
    "All inventions or works of authorship original to me, herein and past,
    are placed irrevocably in the public domain, and may be used or modified
    for any purpose, without permission, attribution, or notification."--LDC
    


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