> Health care, housing, and education are the big three drivers of mandatory expenses in most peoples' lives.
BLS says housing, transportation, and food are the top 3. Insurance/pensions is #4, but that also includes car and homeowners insurance and retirement contributions.
Over the past 50 years, both transportation and food got cheaper. Moreover, clothing actually used to be one of the top categories, but that’s fallen off completely.
I should have said "mandatory expense inflation", yes. There are still some difficult problems the economy is making progress on, but the correct attitude towards those is "keep up the good work" and to focus our attention back on the parts which are robbing us of progress as fast as we make it, where costs soar in excess of wage increases: health care, housing, and education.
Transportation has got cheaper? That seems at odds with what I'm seeing (although I was only 12 years old 50 years ago).
I have a hard time believing healthcare expenses is not in the top three.
I don't know about the first half of those 50 years, but over the second half (2001-today), transportation - or at least cars - got significantly more expensive. Disappearance of cheap new cars + massive supply reduction of used cars + repair costs of old cars + gas prices.
The numbers are just bullshit. The current inflation numbers tell us the price of health insurance is falling for example.
When reality seems to be in conflict with logic, the next step is to question assumptions.
I've never owned a car since I live in NYC (I'm in my 40s), so the only transportation numbers I'm vaguely familiar with are with the subway. The MTA budget has gone way up over the past 50 years [1] and the cost to build the subway in NYC is hovering in the $2 billion/mile range. This is largely political and bureaucratic, as in Japan and Europe it's about $200 million - $400 million/mile. [2]
So clearly something is going wrong with the way we deal with our mass transit as well if Paris can do things for a fraction of NYC.
[1] https://nypost.com/2017/06/25/it-took-50-years-for-the-mta-t... [2] https://www.city-journal.org/article/why-cant-new-york-contr...