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by chii
1189 days ago
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if you were to life with only what was around at the time such productivity increases occurred - e.g., no internet, phone, and high speed computing, access to medical/transport improvements etc - you'd probably be able to live off minimum wage easily. People worked more today because they desired more. In fact, the desire outstripped their ability to increase their wages! |
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That sadly doesn't apply to housing or food, at least in the places I've lived. E.g. houses in the place I was born are now 5x the price, once you factor in inflation. Food and vehicles are 2x. Higher education went from "free" to $30K.
The really important things are far more expensive now, across the three countries I've spent decades in. Maybe the overall situation is different for the US of A.