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Link says the numbers are adjusted to 2023 dollars and a three person household.
by absolutelastone 2y ago
Link says the numbers are adjusted to 2023 dollars and a three person household.
- handsclean 2y agoI saw that, yet all the above remains true. Income, even after inflation adjustment, isn’t the same thing as living standards.
- discodonkey 2y agoAccording to Wiktionary, the standard of living is "the level of income, comforts and services available to an individual, community or society." Levels of income have risen. Comforts and services available are not as simple to measure as income, but consumption (a decent proxy) is also trending upwards. https://data.worldbank.org/indicator/NE.CON.TOTL.CD?locations=US https://data.worldbank.org/indicator/NE.CON.TOTL.CD?location...
- mempko 2y agoMost of that is driven by the top 10%. The top 10% now make up 50% of all consumption in the US. Again demonstrating that inequality matters.
- ryandrake 2y agoIncome can grow (even inflation-adjusted, real income), while standard of living falls.