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> The past 50 years has seen the hourly wage stay flat while the profit workers create is sucked up by the heirs. Are you sure? https://fred.stlouisfed.org/se
by kaashif 2y ago
> The past 50 years has seen the hourly wage stay flat while the profit workers create is sucked up by the heirs.
Are you sure?
https://fred.stlouisfed.org/series/MEFAINUSA672N https://fred.stlouisfed.org/series/MEFAINUSA672N
The reality is that so much wealth has been created that the US has seen rising wages AND rising inequality, with an increasing proportion of growth ending up benefiting capital, not labour.
- mitthrowaway2 2y agoWait, that chart shows a 30% growth in family income. For a per-worker income comparison you'd need divide by the increase in dual-income families. Which has also increased by about 30% since 1975.
- kaashif 2y agoActually, real median personal income has increased 50% since 1975: https://fred.stlouisfed.org/series/MEPAINUSA672N https://fred.stlouisfed.org/series/MEPAINUSA672N I believe you may have seen some number somewhere, it would be useful to have that to silence detractors.
- mitthrowaway2 2y agoHow do you reconcile personal income going up 50% with family income going up only 30% and dual income families going up 30% over the same timespan? Are these really tracking the same thing? Also, I don't understand what you mean about silencing detractors. What number are you saying it would be useful to have? The number of dual income families? That data is available from many sources, eg: https://taxfoundation.org/data/all/federal/america-has-become-nation-dual-income-working-couples/ https://taxfoundation.org/data/all/federal/america-has-becom...