Comment on The Productivity Paradox: Why Technology Makes the Economy More Efficient But Most People No Richer
pie_enjoyer@lemmy.world 1 week ago
Most people ARE richer.
Median wage growth since 1990 is over 40% and the quality of products significantly increased.
HertzDentalBar@lemmy.blahaj.zone 1 week ago
That’s definitely true, but the cost of some things have greatly out paced that like housing or travel.
pie_enjoyer@lemmy.world 1 week ago
Hours of work/sqf ratio is pretty much unchanged since 1990, BUT the quality of housing now is much better than it was 36 years ago.
Travel cost almost exactly followed inflation in the last 36 years, but again, travel now is significantly better than it was back then.
Most of the percieved price increase comes from the lifestyle inflation and just idolizing childhood.