Our cat Theo has a coronary heart illness. We discovered that out from a cat heart specialist.
A cat heart specialist? Actually?
Sure, actually.
Why do I point out this on a web site known as EconLog? As a result of the truth that there are cardiologists for cats is an indication of financial development.
I’m fairly certain that fifty years in the past we didn’t have cat cardiologists. There wasn’t a lot demand for them as a result of Individuals, on common, had been considerably poorer than they’re now. You would possibly argue that there wasn’t a lot provide both, and you’ll be proper. However why wasn’t there a lot of a provide? It was resulting from the truth that expertise had not advanced to the purpose the place cardiologists might diagnose cats, however that was additionally due, partially, to the truth that Individuals had been poorer and weren’t keen to demand such cardiology for cats.
There are such a lot of indicators of financial development and the way rich it has made the typical American.
Take into account motion pictures. In a weblog put up titled “Howard Hughes Would Envy You,” EconLog, September 19, 2024, co-blogger Kevin Corcoran informed a captivating story, which I had not identified about, of Howard Hughes and his use of his personal tv station to play motion pictures. Kevin factors out that within the Nineteen Sixties, Hughes was very rich, rich sufficient to personal his personal TV station, KLAS, in Las Vegas, the place Hughes lived.
Kevin writes:
Now in command of his personal non-public TV station, he might guarantee motion pictures could be broadcast in any respect hours. And apparently, it wasn’t unusual for him to determine he didn’t like what was being proven and easily name the station to inform them to play one thing else as a substitute. Because of this, anybody else who was watching the station would abruptly discover themselves confused because the film they had been in the midst of watching was abruptly switched to one thing else.
Think about that: wanting to look at a film whenever you wish to, altering your thoughts, after which watching one other film. To try this, Hughes had to purchase a TV station for $3.6 million, which, translated to right now’s {dollars} is about $34 million.
In fact, we don’t should think about that. Most of us do it by subscribing to Netflix or different companies and paying yearly lower than 0.0001 % of the value Hughes paid. (In fact, I ought to value Netflix over 10 or extra years, however you get the purpose.)
Boy, are we rich!
And now examine our scenario to that of kings and queens simply 2 centuries in the past. Even a king couldn’t play a track when he needed to. If he needed it late at evening, he must assemble an orchestra. Possibly it could possibly be performed however possibly it couldn’t. Now all of us “assemble” our personal orchestras and may achieve this by touching a few issues on our moveable telephones. And the artists get it notice good each time.
I might not commerce my life for that of Howard Hughes. I particularly wouldn’t commerce my life for that of George IV, the king of England 200 years in the past.
