But that's a nice hypothetical you've got there.
https://fee.org/articles/the-myth-that-the-poor-get-poorer-w...
Median wealth was the same in 1995 as it was in 2016 [0].
Median inflation adjusted household income was the same in 1974 as in 2016 [1]. If you go the full range it's gone from $54k to $67k between 1968 to 2021.
That is technically higher, but it's not CPI adjusted.
[0] https://www.pewresearch.org/social-trends/2020/01/09/trends-...
Learn these things before you try to engage in conversations about this topic:
The difference between income and total compensation.
The difference between income and wealth.
The dynamic nature of economic mobility over the course of someone's life. (Older people have more human capital and therefore more wealth).
Fun fact Denmark is one of the most wealth unequal countries.
I clicked 10 or so citations that all went to the same guys blog where he at best had skewered pew research I sourced directly instead.
> Learn these things before you try to engage in conversations about this topic:
> The difference between income and total compensation.
If you have data on median compensation (outside of regular income) we can discuss it. It would however already be represented in wealth data, so it seems negligible.
> The difference between income and wealth.
Which is why I provided both.
> The dynamic nature of economic mobility over the course of someone's life. (Older people have more human capital and therefore more wealth).
How is this relevant to median income/wealth measured over time? It's not measuring one person's wealth growth, but a time series of snapshots of everyone's (meaning all ages).
The author cites his own blog, which also cites his own blog. Almost all the citations in his blog are to his own blog. One single link in the article did not go to his own blog but instead went to a video at reason.com. This is not a pattern which gives confidence in the material.
