Val Lambson pointed me to this great video of comedian Louis CK on the Conan O'Brien show on 10/2/08. The economic content of the video is that technology has progressed so quickly in recent years, but our baseline utility (happiness) adjusts almost immediately. One of my favorite lines is, "how quickly the world owes him something he knew existed only 10 seconds ago."
Technological progress and habit persistence
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Authors
- Richard W. Evans is an Assistant Professor of Economics at Brigham Young University
- Jason DeBacker is an economist.