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> when wages haven't gone up in 50 years This argument is made time and time again as though it's a self-evident truth...except it's not true at all. The infla
by bhupy 6y ago
> when wages haven't gone up in 50 years
This argument is made time and time again as though it's a self-evident truth...except it's not true at all. The inflation-adjusted median personal income is higher than it's ever been.
https://fred.stlouisfed.org/series/MEPAINUSA672N https://fred.stlouisfed.org/series/MEPAINUSA672N
The median disposable income in the US is in the top 3 in the world: https://en.wikipedia.org/wiki/Disposable_household_and_per_capita_income#Median https://en.wikipedia.org/wiki/Disposable_household_and_per_c...
Since 1967, the middle class has been shrinking...because the upper class has been growing:
https://www.nytimes.com/interactive/2015/01/25/upshot/shrinking-middle-class.html https://www.nytimes.com/interactive/2015/01/25/upshot/shrink...
Yes, college has gotten more expensive (and there are a lot of reasons why), but it's also worth contextualizing: the median number of years to recoup the cost of a bachelors degree, adjusted for inflation, has gone down since the 1980’s, from about 22 years to about 10 years.
https://libertystreeteconomics.newyorkfed.org/2014/09/the-value-of-a-college-degree.html https://libertystreeteconomics.newyorkfed.org/2014/09/the-va...
This is all information you're not going to read in most news media today, because it's, well, pretty boring and doesn't generate revenue.
Yes, there are always improvements that we need to make. Healthcare is indeed a bit of a mess. There are a number of ways to fix it (and not just the one proposal you keep hearing about). Does that mean society is crumbling? Absolutely not. We're living in just about the best time in human history. But climate change is very real, and just about the most catastrophic thing we have to worry about.