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Wages don’t seem to have raised at the same rate at all. https://www.epi.org/publication/charting-wage-stagnation/ https://www.epi.org/publication/charting-wag
by Mistletoe 2y ago
Wages don’t seem to have raised at the same rate at all.
https://www.epi.org/publication/charting-wage-stagnation/ https://www.epi.org/publication/charting-wage-stagnation/
Weirdly, most graphs start getting off in the 1970s when the US left the gold standard. This is to be expected due to the Cantillon Effect.
https://river.com/learn/terms/c/cantillon-effect/ https://river.com/learn/terms/c/cantillon-effect/
- gruez 2y ago>>As long as wages raise as well, it's not a problem. You shouldn't compare prices to prices 100 years ago, but purchasing power 100 years ago to purchasing power now. >Wages don’t seem to have raised at the same rate at all. >https://www.epi.org/publication/charting-wage-stagnation/ https://www.epi.org/publication/charting-wage-stagnation/ Figure 1 from that link is compares actual income with "projected assuming no growth in inequality"... whatever that means, not inflation. Figure 2 compares hourly compensation with productivity, not inflation and on and on... Real wages (ie. inflation adjusted) has gone up, albeit slowly[1]. Even your link suggests this. "Stagnation" implies staying in the same place, not falling behind. [1] https://fred.stlouisfed.org/series/LES1252881600Q https://fred.stlouisfed.org/series/LES1252881600Q
- WithinReason 2y agoA good website on this: https://wtfhappenedin1971.com/ https://wtfhappenedin1971.com/