3 ms·

They are good graphs, but I think explanation is better given by graphs of where wage growth has gone. I don't have it handy, but I recall a very nice graph th

• hectormalot 8y ago
  Since the graph is by median (not the mean), this should really disturb the graph. I think they are spot on: a person on the center of the income distribution has seen housing and education cost double when compared to his/her income. And probably healthcare as well. I’ll admit, income inequality has increased as well, but that by itself could be fine if the relative living cost for the average person had not increased that much
• tafycent 8y ago
  One interesting and slightly mitigating factor to consider is that during the same period of time far more people have moved from middle to upper class or lower to middle class than have moved down in income class. Part of the reason inequality is increasing is that as a whole we're largely moving up in standard of living, but the bottom tail of the distribution isn't really moving. And I'd argue that you wouldn't really expect it to. It's a lot more difficult to drag the destitute out of poverty than to increase the standard of living for most, but not all, people