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It'd be valid if washing machines and televisions were the only things workers today need. Back then they were luxuries, today they're standard issue and we hav
by freehunter 8y ago
It'd be valid if washing machines and televisions were the only things workers today need. Back then they were luxuries, today they're standard issue and we have a whole host of new things that need to be bought. You didn't need an Internet connection, a computer, or a cell phone back then. But none of that matters, it's a ridiculous argument to say that a washing machine is indicative of real wage growth.
What really matters isn't "how much does a washing machine cost", it's "does your salary keep up with inflation" and the answer is no: https://www.glassdoor.com/research/are-wages-keeping-up-with-inflation/ https://www.glassdoor.com/research/are-wages-keeping-up-with...