Michael Rushton

I think there is a communication issue. The first thing is actually calling it cost disease. What is it resulting from? It's resulting from our getting richer. You only have cost disease because the economy as a whole is becoming more productive and real incomes are rising. So that seems like an odd disease where you say, yes, we're all getting richer.

What cost disease is referring to is that productivity changes are going to be different across sectors. Over time, manufactured goods have become far, far cheaper. Raw food production has become cheaper. Transportation has become cheaper. Other things that involve personal services are going to get more expensive. Haircuts. Teaching, massages, live theater.

What cost disease is referring to is that productivity changes are going to be different across sectors. Over time, manufactured goods have become far, far cheaper. Raw food production has become cheaper. Transportation has become cheaper. Other things that involve personal services are going to get more expensive. Haircuts. Teaching, massages, live theater.

What cost disease is referring to is that productivity changes are going to be different across sectors. Over time, manufactured goods have become far, far cheaper. Raw food production has become cheaper. Transportation has become cheaper. Other things that involve personal services are going to get more expensive. Haircuts. Teaching, massages, live theater.

Agatha Christie famously remarked that when she was young, she never thought she would be so rich as to be able to own her own motor car and so poor that she wouldn't be able to have servants.

Agatha Christie famously remarked that when she was young, she never thought she would be so rich as to be able to own her own motor car and so poor that she wouldn't be able to have servants.

Agatha Christie famously remarked that when she was young, she never thought she would be so rich as to be able to own her own motor car and so poor that she wouldn't be able to have servants.

Yes, we are getting richer and we have more income to be able to spend on education, health care, personal services and the arts because other things in our economy have become so much cheaper.

Yes, we are getting richer and we have more income to be able to spend on education, health care, personal services and the arts because other things in our economy have become so much cheaper.

Yes, we are getting richer and we have more income to be able to spend on education, health care, personal services and the arts because other things in our economy have become so much cheaper.