It's inflation adjusted wages. As in adjusted for changes in average costs of living. Most people don't spend all their money on TVs. they spend it on food, hou

It's inflation adjusted wages. As in adjusted for changes in average costs of living. Most people don't spend all their money on TVs. they spend it on food, housing, transportation, clothing and other things that existed in 1973. Furthermore, they adjust the inflation figure to account for changes in the technological utility of things