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Wage stagnation would mean wages in the past buy the same things now. If people have in the past lived on X, why could they not live exactly the same now on X?
by ChrisLomont 5y ago
Wage stagnation would mean wages in the past buy the same things now.
If people have in the past lived on X, why could they not live exactly the same now on X?
- echelon 5y agoA lot has changed. It's not just wage stagnation and inflation, but consumption habits and jobs have changed too. Many things are cheaper or free now. YouTube, Facebook, Reddit, etc. provide hours of entertainment for "free". Streaming music, etc. 70'' tvs are cheap, ad supported. Clothing is cheaper. Disposable electronics and garbage products cheaper. Durable physical goods, tools, and food are more costly. Cars. Houses. Things of value and craftsmanship.