5 ms·
If we're speaking literally, yes it has. Average salary in US 1957 was just under $5,000. If you're adjusting for inflation, it's hard to quantify our quality
by jdross 10y ago
If we're speaking literally, yes it has. Average salary in US 1957 was just under $5,000.
If you're adjusting for inflation, it's hard to quantify our quality of life difference. We have comforts and luxuries that were hardly conceivable 60 years ago, and they're well distributed.
In real terms worldwide, GDP per capita in current USD went from $445 in 1960 to $10,000 today, a 20x increase.
So I dispute your point, except in inflation-adjusted USD in the USA for the average worker (and where I still don't think you can quantify).
- nylonstrung 10y ago>We have comforts and luxuries that were hardly conceivable 60 years ago, and they're well distributed The avg amount of hours worked has also gone up considerably in that time, as has the level of education and human capital. If you control for both of those we indisputably get paid less per hour, while at the same time education and healthcare have gotten more expensive. Not to mention that US poverty rate has not declined at all in the last 25 years, a period of exponential technological progression.
- tankenmate 10y agoHousing costs in a large percentage of cities has also risen sharply as a percentage of take home pay.