4 ms·
I don't understand your argument. 40K in today's purchasing power buys you 1/20 of a house in San Jose. It is about real wages not nominal wages. And I think fo
by tostitos1979 13y ago
I don't understand your argument. 40K in today's purchasing power buys you 1/20 of a house in San Jose. It is about real wages not nominal wages. And I think for many people in the middle class, we might be earning less than our parents did in their 20s and 30s (in real wage terms).
Addendum: what's more ... if someone in your pervious generation had a PhD, they likely would be able to get tenured jobs at Universities. That is a bit harder these days.
- dnautics 13y agothat's exactly my argument. These are all consequences of policies, not economics.... And, while research science may be a odd case, I am definitely making less than my dad did at my age.