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> Remember in 1963 only the man was working, and typically supported 4 kids, a wife and often parents in the home. They used older kids to watch younger kids,
by seanmcdirmid 3y ago
> Remember in 1963 only the man was working, and typically supported 4 kids, a wife and often parents in the home.
They used older kids to watch younger kids, and generally let the kids fend more for themselves (my boomer dad was the oldest of 8 kids, and that was his experience, but having his grandparents die of spanish flu after WW2 hurt and helped a bit). I actually kind of admire that, and think we've lost something with more hands on parenting.
I totally agree. In a sense, FAANG salaries aren't especially high by historical standards, it is just that everyone else has fallen so far behind. $500k/year household income is firmly middle class, and is like earning $135k in 1980, my dad made more than that contracting in building nuclear plants with an associates degree from Spokane Community College.
- thfuran 3y ago>In a sense, FAANG salaries aren't especially high by historical standards You can't be serious. >$135k in 1980, my dad made more than that contracting in building nuclear plants That's over six times the median household income in 1980. $135k today would still be nearly twice the median household income.
- seanmcdirmid 3y agoIt wasn't that much back then, especially when the industry was feast or famine (and it did implode in 1986 or so). But really, my only point was "a guy who had an associates degree from a CC could earn that much." My buying power is essentially worse than my dad's, although I put in a lot more time in school for it, and supposedly made the right career choice, things just suck these days and techies are keeping their heads above water but not much more.
- ethanbond 3y agoIt’s the land price. Gets baked into every single good and service and goes up in lockstep with productivity gains.