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> while others have slowly inflated supply to lower payments. Could you give some examples? Real personal income has been rising pretty steadily for as long as
by dahfizz 6y ago
> while others have slowly inflated supply to lower payments.
Could you give some examples? Real personal income has been rising pretty steadily for as long as the data has been collected [1]. So the median person earns more as the years go on, not less.
[1] https://fred.stlouisfed.org/series/MEPAINUSA672N https://fred.stlouisfed.org/series/MEPAINUSA672N
- xorcist 6y agoRelative to other jobs, not in absolute terms (which isn't very meaningful to compare). Lots of specialized jobs start out well paid and then spread out over time as more enter the profession. Airline pilots, for example, used to be a lucrative job but isn't now. School teachers used to be paid well. Engineering is a bit of a mixed bag, but there are plenty of examples there too. Medical doctors is the common exception to this.