What are you talking about? I said all workers required experience to gain knowledge, and that with that experience and knowledge you become more valuable to the company. Older generations went through the same thing. Every generation has since the beginning of humans. You don’t have some new special burden, you just think think you do because you lack experience.
When you were starting out, you were the inexperienced person. You do indeed make more money with experience, but that has NOTHING to do with the chart. It shows averages today and fifty years ago. Your commentary on it implies that the workplace has somehow become inexperienced in that fifty years, which is patently absurd. Workers are simply paid less today, regardless of experience level.
The average home built in 2023 is bigger, with higher end materials, than the average home built in 1970. Those things cost more. The cars in 2023 are better than the cars in 1970 in safety, performance, features, comfort, longevity, etc… all of which adds cost.
If we had new homes and cars of the same quality that was being produced in 1970, think may not look as dramatic.
So even if you bought a below average home and car in 2023, you’d still be living better than a person in 1970. So stop trying to be average… average clearly sucks, just look at the numbers.
More parts for all that extra stuff (much of it required by law) == a higher price.
If we built a modern 2023 car (one with air bags, ABS, backup cameras, etc) in 1970 it may have been $6,312 instead of $3,415. The $6k price being the current average adjusted back for inflation.
I’d argue we live a much richer lifestyle than those in 1970. The bar for average today is much higher than it was 50 years ago. And in 1970 the bar was much higher than it was in 1920. And the bar in 1920 was much higher than it was in 1870.
I pulled some numbers for 1923. (my years are slightly different, I assume because I’m ignoring interest)
1923 to 1973 basically doubles. 1973 to 2023 doubles again. Was 1973 a result of wage stagnation and inflation, or were things in 1973 just that much better than stuff in 1923, and the price to produce those things reflects that.
I’m not say you’re wrong, but I think they’re more to the picture than what is being displayed here.
Like I wrote. In 1970, a good Union job could support a family of four with plenty of luxuries. A high school graduate could be instantly self supporting with a minimum wage job paying for a one bedroom apartment and a car. By you chart the years to pay off the debt went up about 75% from 1923 to 1973 and more than doubled from 1973 to 2013.
TIL that older generations knew everything from birth. That explains a lot.
What are you talking about? I said all workers required experience to gain knowledge, and that with that experience and knowledge you become more valuable to the company. Older generations went through the same thing. Every generation has since the beginning of humans. You don’t have some new special burden, you just think think you do because you lack experience.
When you were starting out, you were the inexperienced person. You do indeed make more money with experience, but that has NOTHING to do with the chart. It shows averages today and fifty years ago. Your commentary on it implies that the workplace has somehow become inexperienced in that fifty years, which is patently absurd. Workers are simply paid less today, regardless of experience level.
The average home built in 2023 is bigger, with higher end materials, than the average home built in 1970. Those things cost more. The cars in 2023 are better than the cars in 1970 in safety, performance, features, comfort, longevity, etc… all of which adds cost.
If we had new homes and cars of the same quality that was being produced in 1970, think may not look as dramatic.
So even if you bought a below average home and car in 2023, you’d still be living better than a person in 1970. So stop trying to be average… average clearly sucks, just look at the numbers.
Of course some things have improved in fifty years. But technology isn’t tied to inflation.
In fact technology should have made things much cheaper. In 1970, prople expected to be able to afford the same life style working fewer hours.
More parts for all that extra stuff (much of it required by law) == a higher price.
If we built a modern 2023 car (one with air bags, ABS, backup cameras, etc) in 1970 it may have been $6,312 instead of $3,415. The $6k price being the current average adjusted back for inflation.
I’d argue we live a much richer lifestyle than those in 1970. The bar for average today is much higher than it was 50 years ago. And in 1970 the bar was much higher than it was in 1920. And the bar in 1920 was much higher than it was in 1870.
I pulled some numbers for 1923. (my years are slightly different, I assume because I’m ignoring interest)
1923 to 1973 basically doubles. 1973 to 2023 doubles again. Was 1973 a result of wage stagnation and inflation, or were things in 1973 just that much better than stuff in 1923, and the price to produce those things reflects that.
I’m not say you’re wrong, but I think they’re more to the picture than what is being displayed here.
Like I wrote. In 1970, a good Union job could support a family of four with plenty of luxuries. A high school graduate could be instantly self supporting with a minimum wage job paying for a one bedroom apartment and a car. By you chart the years to pay off the debt went up about 75% from 1923 to 1973 and more than doubled from 1973 to 2013.