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Americans have the second highest median disposable income in the world (after Luxemborg), adjusted for PPP: https://en.wikipedia.org/wiki/Disposable_household_
by creato 3y ago
Americans have the second highest median disposable income in the world (after Luxemborg), adjusted for PPP: https://en.wikipedia.org/wiki/Disposable_household_and_per_capita_income#Median_equivalent_adult_income https://en.wikipedia.org/wiki/Disposable_household_and_per_c...
I know your claims are generally accepted fact. Where is the disconnect?
- some_furry 3y agoLandlords. Medical debt. Prices have inflated for decades. Minimum wage has stagnated.
- nerdponx 3y agoFriendly reminder that "inflation" more or less definitionally implies that wages increase proportionally to consumer goods prices. If prices are going up and wages aren't, it's just people getting proportionally poorer.
- some_furry 3y agoCosts have inflated, wages have not.
- gruez 3y agoThey have, though: https://news.ycombinator.com/item?id=38325650 https://news.ycombinator.com/item?id=38325650
- JumpCrisscross 3y agoThere is a psychological effect in that price rises are perceived as inflation while wage increases are seen as personally earned. So even though real wages are going up, at the individual level, they're not seen as being macro-economically driven.
- nerdponx 3y agoDistribution thereof? As well as what exactly constitutes "disposable" income; it might not actually be disposable, depending on how that's defined or measured.
- creato 3y agoThat data is the median. The distribution may be uneven, but even the median American has more PPP adjusted income than all but Luxembourg citizens.
- nerdponx 3y agoOK, but the second point also stands. Income is not the same as disposable income. The OECD data claims to measure the latter, but you'd have to look into the data definitions to see what that means.
- nurple 3y agoThis is an awful metric for such a discussion, almost seems disingenuous.