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>Even prior to the pandemic, real wages were stagnant for decades. This is not true from a global perspective. In addition, there has been significant immigrat
by mattmcknight 6y ago
>Even prior to the pandemic, real wages were stagnant for decades.
This is not true from a global perspective. In addition, there has been significant immigration, where people are are entering the economy at the bottom (increasing inequality in a country, while they are making more than they would where they came from). This is not to say things couldn't be better, but the economy is global, and nationalistic perspectives presume a closed system.
- Retric 6y agoAny data on this? It’s true for many individual countries, but global population growth has been dominated by poor countries for a while which should dramatically drag down wage percentiles. In the last 30 years UK’s population for example is up 19% where India’s is up 58%.
- dash2 6y agoGoogle “elephant graph” or go to ourworldindata and you should find it. Population growth has been dominated by income increases. The average person in China in particular got much richer.
- Judgmentality 6y agohttps://www.vox.com/policy-and-politics/2018/2/2/16868838/elephant-graph-chart-global-inequality-economic-growth https://www.vox.com/policy-and-politics/2018/2/2/16868838/el... I'd never heard of this before. This is the most interesting thing I learned today. Thank you.
- Retric 6y agoInteresting that 0% growth at the 80th percentile and minimal growth at 90% is exactly the stagnation I was expecting. Though, sub 50% growth from 1980-2016 for the 60th to 95th percentile is more interesting. With the top 1% capturing 26% of all growth and the top 0.01% having 200+% growth. It’s clear arbitrary starting and end points can shift these graphs around dramatically. Ending now is probably going to make a graph like this look really bad.
- sdenton4 6y agoHans Rosling's work is all about the reasons for long term optimism. With lots of stats. https://en.m.wikipedia.org/wiki/Factfulness:_Ten_Reasons_We're_Wrong_About_the_World_%E2%80%93_and_Why_Things_Are_Better_Than_You_Think https://en.m.wikipedia.org/wiki/Factfulness:_Ten_Reasons_We'...