The Failure to Account For Progress

fightaging.org

14 pointsMikeCapone3 comments

I think this misses the point of the original article. While the overall point of ignoring progress may be valid, Mankiw is aware of the ability of markets to reduce costs. He is asking about how to allocate scarce resources. If there is a method for immortality which costs more than the average production of the population, there is no way to give it to everyone. Who gets it? It is a thought experiment, not a prediction for advanced cultures.

We already have a method to allocate scarce resources - charge more for them. What the thought experiment hasn't suggested is why that isn't good enough.

We currently let rich people have better medical care, why would this be different?

I think he was annoyed because this excuse is often used against developed longevity science ("but only the rich will get access to it!").

Maybe that's not what the original article meant (I don't know), but the point still stands in general.

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