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That assuming that the 'real' inflation figures are used. To maintain his buying power since 1963, a blue-collar production worker should be earning about $500
by simonblack 3y ago
That assuming that the 'real' inflation figures are used.
To maintain his buying power since 1963, a blue-collar production worker should be earning about $5000 a week 60 years later. That just does not occur.
It's the main reason that the US is no longer as rich and powerful as it was in the 1960s. If the 'working man' is not able to spend as much as he once could, the economy is a lot weaker than it should have been.