Yes, the minimum wage in Big Macs has absolutely cratered, something like a sevenfold decrease. I haven’t checked the numbers but I expect the price of a house

Yes, the minimum wage in Big Macs has absolutely cratered, something like a sevenfold decrease. I haven’t checked the numbers but I expect the price of a house in minimum wage hours has similarly skyrocketed. This is of course because labor has received virtually none of the labor productivity gains since 1965.