A bit like owning stocks on the stock market then I would guess. Which begs the question of whether to take a higher paying job with no options and invest the difference.
With the title "The far-reaching effects of air conditioning" I didn't immediately think "Yup ... that's handy: frozen peas" even though the technology underlying them is the same.
Refrigeration allows you to preserve any kind of food and eat it at any time of year. It allows food to be shipped in to remote locations, which is important.
Air conditioning directly lets people live where they otherwise couldn't; it doesn't seem obvious that refrigeration is larger-impact.