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> My point is that the pie is growing and all are benefitting. This is the main point of contention though. Earlier generation middle class seems to have been
by srean 5mo ago
> My point is that the pie is growing and all are benefitting.
This is the main point of contention though.
Earlier generation middle class seems to have been larger and more financially secure. That would be our parent's generation. Of course not all of our parents would qualify.
- crossbody 5mo ago"seems" as based on vibes? Beware of nostalgia bias! It is true that middle class has been shrinking. What is often overlooked though ks that the majority of that middle class moved on to the upper class, so not bad at all and aligns with "growing pie"
- srean 5mo agoI accept the criticism in name but cannot invalidate a lived experience just because it has not been quantified accurately. > majority of that middle class moved on to the upper class Is this true in the US in inflation adjusted terms ? Can say that it is certainly reversed direction in my country.
- crossbody 5mo agoYes, people are getting wealthier in real terms, including the poor. Especially if you quantify it the right way: absolute consumption/expenditures, not relative % from median income (relative count will always show there are poor people even if they would appear insanely "rich" to a poor person from 100 years ago or from Afghanistan). On lived experience: my lived experience tells me the Earth is flat.