2 ms·
CPI isn’t being measure properly. What if all of these numbers that you cite have been games by a bureaucracy desperate not to advertise its failures? Everytime
by hacknat 7y ago
CPI isn’t being measure properly. What if all of these numbers that you cite have been games by a bureaucracy desperate not to advertise its failures? Everytime I dig into a government stat I end up finding out how badly it misses the mark. This whole article is about how we trust our own data too much, and your argument is, “But that’s not what the data says”.
Instead of looking at nominal income (which was a smaller part of peoples’ wages decades ago), look at real wage growth (https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/ https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us...). If we take in all the benefit cuts, the fact that college has become a necessity, pensions are dead, and healthcare inflation is insane, real housing inflation has been substantial, then you can begin to understand the situation. Income is only part of the equation. Yes, income has gone up, but we traded it for the mother of all benefit cuts.
- 0xfaded 7y agoIt's actually simpler than that, median household income != median wage. Here's the chart the parent wants. Simple explanation is that there are more dual income households. https://aneconomicsense.files.wordpress.com/2015/02/going-from-gdp-per-capita-to-median-wage-1947-to-2013142.png https://aneconomicsense.files.wordpress.com/2015/02/going-fr...
- WillPostForFood 7y agoYou either use the data, or your are just telling stories to fit your worldview. You carefully avoid stating it, but even the data in your Pew link shows a pay increase, albeit small.
- hacknat 7y agoOr the third option, you do the hard work of digging into the data yourself to see what it actually says, rather than reiterating what the bureaucracy tells you it means.