Post
Topic
Board Economics
Re: Money & Inflation
by
deisik
on 07/01/2019, 14:05:19 UTC
Salaries didn't increase at all compared to 60+ years ago let alone 20 years ago, the salaries stayed around the same or just a bit more whereas inflation is increasing. Investments made huge leaps but than crashed at 2008 and than made another huge leap and crashed this year. Basically while inflation was going on, people didn't get richer to cover the difference

I'm curious where you got the wage rates from 60 years ago

I remember seeing a table with wage rates per hour depending on occupation and starting from 20's of the past century. Their rise was quite on par with inflation, so it is unlikely that wages remained the same in absolute value in the last 60+ years. Care to reveal the source of your data?

Apart from that, people are prone to make lopsided conclusions without taking into account all relevant factors such as technological advances and breakthroughs as well as increases in productivity. So while the price of things like food and clothes remained mostly the same, you can't say the same in respect to things like computers, cars, home appliances, etc, which either didn't exist 60 years ago (personal computers) or were quite expensive (automobiles)