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0 pointschii3y ago0 comments

> but get a fewer piece of the pie

i dont think that's true. The average wealth has grown, and even if you didn't get wage growth, the availability of things you could buy with said wage has grown (which is in and of itself a form of wealth).

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nemothekid3y ago

>i dont think that's true.

American productivity/wage gap isn't particularly controversial, it's well documented.

>The average wealth has grown

Globally yes, but as far as Americans are concerned they largely didn't see their wealth grow as the "Elephant curve" [2] shows. A lot of the wealth growth happened in China and India.

>the availability of things you could buy with said wage has grown

"You'll own nothing. And you'll be happy" is pretty much what you are saying here. The price of real assets has grown tremendously, but at least you can buy a 60" flatscreen TV for $100.

[1] https://wtfhappenedin1971.com/

[2] https://www.aeaweb.org/research/charts/elephant-curve-world-...

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