Julian Sanchez Wins for All Time...
Worth Reading, Mostly Economics, for March 29, 2010

Does Thinking of New Luxuries Make Us Unhappy?

George Stigler wrote somewhere that the purpose of economic growth is to make us not think of necessities, to turn what were once extravagant luxuries into necessities, and to allow us to invent new luxuries to aspire to.

Watching the Black Eyed Peas has now made me bitterly regret that I am so poor that I will never ride an elephant across one of the moons of Jupiter. Am I made poorer thereby?

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