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That's the thing. Inequality quickly dropped in the last 4 years. Over 40% of inequality growth accumulated since 1979 has been cancelled out in just 4 years.
by anovikov 2y ago
That's the thing. Inequality quickly dropped in the last 4 years. Over 40% of inequality growth accumulated since 1979 has been cancelled out in just 4 years.
And, sure enough, by every possible metric, in 50 years, quality of life has improved everywhere, for every income bracket. It's utter lunacy to suggest otherwise. With the U.S. real GDP per capita growing 2.5x since, there is simply no way for any place or any social group to feel worse, by any possible metric, even if cherrypicking. And, it's not worse than world average. Even since 1991 when situation has probably been strategically the best for America, it did not fall behind the world economically (China made a quantum leap, but Latin America and ex-Soviet sphere, has fallen way behind)
As for housing, well, housing never grew in price above average inflation and it does not grow that way now, either. Inflation-adjusted square foot price in US and almost all Western countries have remained stagnant for ~50 years. In UK, yes, it is different. Australia too.
If people are unhappy with economic situation today, nothing will ever be enough for them.
- BriggyDwiggs42 2y agoQuality of life has not dramatically changed in already first-world countries over the last fifty years. We already had plucked a lot of the low hanging fruit for human comfort by 1974, so developing countries are seeing bigger changes because those things are being introduced. > If people are unhappy with economic situation today, nothing will ever be enough for them. Utter nonsense man. Things are not going well economically for normal people on the street, and wages have been stagnant for decades.