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> I'm easily making more money, in nominal dollars, than an average CEO in 1919, but I'm not running wild in Saint-Tropez every summer either. Not arguing with

> I'm easily making more money, in nominal dollars, than an average CEO in 1919, but I'm not running wild in Saint-Tropez every summer either. Not arguing with your general point. But on this count, I think you're vastly better off than the average CEO in 1919. You have luxury they couldn't have even imagined. - quality of medical care - entertainment - air travel - cars - food regardless of season - etc

bmmayer1 7y ago
That's a good point, and also speaks to the futility of trying to define wealth in dollar terms, even when adjusting for inflation. An inflation-adjusted dollar in 2019 buys more than an inflation-adjusted dollar in 2000, even (iPhones alone!)
- paulddraper 7y ago
  > An inflation-adjusted dollar in 2019 buys more than an inflation-adjusted dollar in 2000, even Depends. Does it buy more concrete? Does it buy more rocket ships? Does it buy more childcare? Does it buy more iPhones? Just depends on what you're talking about.
folli 7y ago
This is actually a really interesting point. In some ways even moderatly poor people in a Western country are better of than the Caesars of Ancient Rome, especially the availability of medical care is something I would never want to trade. In other ways even the richest and most powerful people today will never be able to have comparable power, in terms of political and cultural influence. It would be an interesting excercise to come up with a definition of wealth that somehow accounts for this.
- benjohnson 7y ago
  It is strange! One of the problems some moderately poor people have is eating too much food.
  - vokep 7y ago
    For the first time in history, it is now possible to be obese and malnourished simultaneously.
    - folli 7y ago
      malnourishment != undernourishment I'm pretty sure this is not specific for the modern age, but perhaps the shift from undernourishment to malnourishment is.
chungleong 7y ago
A paradox of modern society is how a greater equality in material well-being has led to a greater feeling of inequality as people have more and more reference points.

bmmayer1 7y ago

That's a good point, and also speaks to the futility of trying to define wealth in dollar terms, even when adjusting for inflation. An inflation-adjusted dollar in 2019 buys more than an inflation-adjusted dollar in 2000, even (iPhones alone!)

paulddraper 7y ago
> An inflation-adjusted dollar in 2019 buys more than an inflation-adjusted dollar in 2000, even Depends. Does it buy more concrete? Does it buy more rocket ships? Does it buy more childcare? Does it buy more iPhones? Just depends on what you're talking about.

folli 7y ago

This is actually a really interesting point. In some ways even moderatly poor people in a Western country are better of than the Caesars of Ancient Rome, especially the availability of medical care is something I would never want to trade. In other ways even the richest and most powerful people today will never be able to have comparable power, in terms of political and cultural influence. It would be an interesting excercise to come up with a definition of wealth that somehow accounts for this.

benjohnson 7y ago
It is strange! One of the problems some moderately poor people have is eating too much food.
- vokep 7y ago
  For the first time in history, it is now possible to be obese and malnourished simultaneously.
  - folli 7y ago
    malnourishment != undernourishment I'm pretty sure this is not specific for the modern age, but perhaps the shift from undernourishment to malnourishment is.

chungleong 7y ago

A paradox of modern society is how a greater equality in material well-being has led to a greater feeling of inequality as people have more and more reference points.