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Adjusted for inflation median household income in the US has grown by about 20% since 1950. Given massive increases in inequality since then the lower percentil
by 1812Overture 10y ago
Adjusted for inflation median household income in the US has grown by about 20% since 1950. Given massive increases in inequality since then the lower percentiles have seen close to zero growth since then. But TVs have gotten bigger, which is nice.
- yummyfajitas 10y agoYou are off by about 60% - prior to 1996 inflation was overstated by 1.6%/year. https://en.wikipedia.org/wiki/Boskin_Commission https://en.wikipedia.org/wiki/Boskin_Commission It's actually still overstated; for example, there is no hedonic adjustment to health care in CPI. In 1950, I'd be a cripple. In 2014 I had surgery and now I'm in great shape. Since surgery costs more than a doctor saying "you're fucked", the BLS treated it as inflation. And really, this claim just doesn't pass the smell test. And by "smell", I mean the smell of an outhouse. In 1950 the bottom 16-32% (depending on which set of numbers you look at) lacked full indoor plumbing. https://books.google.com/books?id=_nY9LFtlqygC&pg=PA180&lpg=PA180&dq=1950+flush+toilets+penetration&source=bl&ots=1zpmWoGahy&sig=5C4bESETWdXtdWcF4u3spSphJTs&hl=en&sa=X&ved=0ahUKEwjimazLlqHPAhXDcD4KHaPpBb0Q6AEIIzAB#v=onepage&q=1950%20flush%20toilets%20penetration&f=false https://books.google.com/books?id=_nY9LFtlqygC&pg=PA180&lpg=...
- 1812Overture 10y agoI'm basing those numbers on this: http://www.advisorperspectives.com/dshort/updates/2015/09/23/median-household-income-growth-deflating-the-american-dream http://www.advisorperspectives.com/dshort/updates/2015/09/23... I'm obviously not making an argument that technology hasn't advanced since the 1950s. Don't be silly.