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No, you're simply misinformed likely due to widespread propaganda online. In the US the average worker makes about 10% more than 50 years ago. [1] And this is d
by laser 3mo ago
No, you're simply misinformed likely due to widespread propaganda online. In the US the average worker makes about 10% more than 50 years ago. [1] And this is despite a massive outsourcing headwind of globalization that has made non-Americans vastly richer on average and pulled billions out of poverty globally. [2]
[1] https://fred.stlouisfed.org/series/LES1252881600Q https://fred.stlouisfed.org/series/LES1252881600Q
[2] https://www.macrotrends.net/global-metrics/countries/wld/world/poverty-rate https://www.macrotrends.net/global-metrics/countries/wld/wor...
- oatmeal1 3mo agoInflation needs error bars. A small bias in how inflation is measured, over a long period of time, would create substantially different results. I personally don't doubt that we have more buying power, but we have basically just created better addictions that we waste that buying power on.
- paulryanrogers 3mo agoConsidering gains in productivity [0] and rising costs for housing, healthcare, and food, I'd say average workers have been exploited. [0] https://www.reddit.com/r/dataisbeautiful/comments/1o5u4d1/oc_us_productivity_vs_real_median_wages_19792024/ https://www.reddit.com/r/dataisbeautiful/comments/1o5u4d1/oc...