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So in the 40 or so years since 1981, has that blue collar job's output as a percentage of global GDP increased, decreased, or remained the same? I would argue

by chii 2y ago

So in the 40 or so years since 1981, has that blue collar job's output as a percentage of global GDP increased, decreased, or remained the same? I would argue that the same blue collar job might've been reduced as a percentage of global output, which means the value creation is lower, and thus, the 12x salary for a house might be justified.

StanislavPetrov 2y ago
>So in the 40 or so years since 1981, has that blue collar job's output as a percentage of global GDP increased, decreased, or remained the same? It is a blue collar government job. Like most government jobs, one could easily argue that the "value created" was zero then and is zero now. In any event, the job remains the same, and salary has risen (more or less) with the official rate of inflation. There is no reasonable argument to be made that the same house that this government worker could buy 40 years ago for 2 years salary should now be worth 24 years salary.