4 ms·
In that case, maybe I'm wrong. If it is really true that the base cost of living has risen compared to real wages, then I'm wrong. I wonder if someone were able
by rthomas6 14y ago
In that case, maybe I'm wrong. If it is really true that the base cost of living has risen compared to real wages, then I'm wrong. I wonder if someone were able to only buy amenities and luxuries to create a standard of living comparable to the median standard of living in 1970, would it cost more or less in real wages? Or the same? My premise was that it would cost less even though real wages have not risen, because one would not have to buy as much to live like 1970 compared to how the average US citizen lives today. Similar to how mobile phones, computers, and the like are cheaper today. But if it's true that 1970's-comparable housing, health care, education, etc. costs have all risen, then you're right... the standard of living in some ways could be considered to be lower today than in 1970. Which is really effed up.
- eli_gottlieb 14y agoI'd advise giving this a watch. The data has surprised everyone, including the people researching it: http://www.youtube.com/watch?v=akVL7QY0S8A http://www.youtube.com/watch?v=akVL7QY0S8A