3 ms·
Why would you compare a unit of work (say an hour) to a cumulative index? It just doesn't make any sense to compare those two values.
by bluecalm 1y ago
Why would you compare a unit of work (say an hour) to a cumulative index?
It just doesn't make any sense to compare those two values.
- ta1243 1y agoAn hour of work buys far less of a percentage of the value of US companies than it did 20 years ago. in 1983 a single "share" in the S&P, or a single unit of American business, cost $120, about 13 hours work at the median wage then of about $9/hr. Today you would have work for about 200 hours at the median wage of $30/hr to buy the same single share ($6200) Companies have ballooned in value relative to median earnings. And top 10%ile earnings too for that matter.