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The price of labor is a price and should rise with everything else. Average income should track inflation.
by nerfhammer 13y ago
The price of labor is a price and should rise with everything else. Average income should track inflation.
- snowwrestler 13y agoAverage income grows faster than inflation because of real economic growth. In the U.S. we've had positive inflation numbers for most of the last 80 years, which has coincided with significant across-the-board improvements in standard of living.
- jswinghammer 13y agoTell me again about that across the board improvement: http://www.bloomberg.com/news/2012-10-02/top-1-got-93-of-income-growth-as-rich-poor-gap-widened.html http://www.bloomberg.com/news/2012-10-02/top-1-got-93-of-inc...
- snowwrestler 13y agoSure, here's a short list off the top of my head of products and services that have become more widely available and affordable within the last 80 years. - antibiotics - health insurance - air conditioning - telephones - TVs - washing machines - meat - automobiles - air travel - medical imaging - computers