3 ms·
So what you're saying is, under this theory, increases in productivity create real improvements in people's purchasing power? In that case, how do you explain
by danaris 3y ago
So what you're saying is, under this theory, increases in productivity create real improvements in people's purchasing power?
In that case, how do you explain the last 40+ years, where productivity has been skyrocketing, but most peoples purchasing power has remained mostly flat?
Or is it your contention that there is nothing we can do that can increase the purchasing power of regular people under the current system? Because if that's the case, that would be a pretty massive indictment of the system as a whole.
- MichaelZuo 3y agoWhat are you talking about? Most people’s effective purchasing power have skyrocketed. e.g. A single solar panel 40 years ago would have been more than a years‘s income for the median American. (And much less efficient too) Even the crappiest healthcare plans nowadays offers options beyond what the absolute top of the line healthcare plans offered 40 years ago.
- danaris 3y agoApproximately no one who is having trouble affording bread and eggs cares that solar panels are vastly more affordable.
- MichaelZuo 3y agoSo your just going to ignore the healthcare example that every passing reader can clearly see? Really? And btw eggs are also roughly the same or even cheaper for the median American income compared to over 40 years ago.
- danaris 3y agoMy point is that you can cherry-pick specific examples all you like, but the data clearly shows that the purchasing power (real wages, whatever term you prefer) of average Americans has stayed (nearly) flat for the past 40+ years.
- MichaelZuo 3y agoWhat data? Why not just link it? Everything I’ve seen suggests otherwise, a big net positive even after factoring in everything.
- danaris 3y agoThen you must have only been looking at horrendously biased sources. This is incredibly common knowledge. It's very widely reported. Just Google "real wages vs productivity graphs".
- MichaelZuo 3y agoIt seems you’re confusing these concepts? Purchasing power is NOT equivalent to productivity.