The economy matter less to the individual when wage growth has stagnated and most Americans are living pay check to pay check. The economy is healthy for the millionaire class, not the every day American.
Isn’t that a feature of capitalism though, if people are forced to work 2-3 jobs at 60-70 hr/wk to cover bills, you have way more wealth generation per capita than if they were only working 32 hr/wk. The more you exploit your labor, the more your economy is booming.
I think the economy should never be a standard of measure.
The number 0 still exists. The chart does show arbitrary values higher and lower than the line. Choosing a lower limit other than 0 is a dishonest choice. It’s the first lesson I taught kids about when I touched on media literacy. Ask yourself why the author chose the mode they used and any arbitrary choices they made.
$30 of increase since the 1980s is entirely are up by problems in how we measure CPI. Even the understatement in housing alone would eat up that “increase.”
The economy matter less to the individual when wage growth has stagnated and most Americans are living pay check to pay check. The economy is healthy for the millionaire class, not the every day American.
Isn’t that a feature of capitalism though, if people are forced to work 2-3 jobs at 60-70 hr/wk to cover bills, you have way more wealth generation per capita than if they were only working 32 hr/wk. The more you exploit your labor, the more your economy is booming.
I think the economy should never be a standard of measure.
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How would that chart look if the y-axis started at 0?
Much flatter… 310-390 as opposed to what’s ostensibly a 10-90 scale visually.
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The number 0 still exists. The chart does show arbitrary values higher and lower than the line. Choosing a lower limit other than 0 is a dishonest choice. It’s the first lesson I taught kids about when I touched on media literacy. Ask yourself why the author chose the mode they used and any arbitrary choices they made.
That’s not the point–because the y-axis doesn’t start at zero, the changes in wages look more drastic than they actually are.
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$30 of increase since the 1980s is entirely are up by problems in how we measure CPI. Even the understatement in housing alone would eat up that “increase.”
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Systemic problems in how we measure “real” dollars have probably outpaced $30 in that timeframe.
Things are also getting better for the working poor.
The middle class is the one seeing few benefits.