Episode 272: $100,000 Today or in 1959?

A little debate broke out on social media when a left-wing progressive mocked the idea that “absolute” standards of living are more important than “relative” ones. To some, what people aspire to is merely “to have a better life than the people around them,” and not “to have a better life.”

What is the truth here? And does it matter? If people really are merely concerned with “upping” their neighbors, couldn’t we do that pretty easily without driving burdensome things like “progress”?

On today’s Capital Record, David takes on the reality of human nature and the fundamental aim of economics. Ultimately, we find ourselves back to the Tenth Commandment to resolve one tension, and to the Garden of Eden to resolve another!

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