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Ram Keswani's avatar

You're an amazing writer Josh Sir, so is Rob Sir and I learn so much from the posts.

Please correct me if my reasoning below is wrong.

Economics and Game Theory corroborate this post. Suppose person X doesn't want to outperform her peers by earning more money and just wants to earn enough to meet her bare necessities and indulge in only some luxuries. Since wages are decided by supply and demand, if X's peers are upskilling themselves, in the long run, X's real wage would reduce. This is not unlike education/degree inflation.

This is a collective action problem. It'll only stop when enough people come together and change the system.

Its a race we've collectively trapped ourselves in. Even if I don't want to run the race, I'll have to keep running (or atleast keep walking) because of how the economy works.

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