This is really simplistic, in 1929 the average wage was about 30 dollars a week, today the average wage is about 800 dollars a week. about 27 times more, so I think the average worker is better off today than 90 years ago.
This is really simplistic, in 1929 the average wage was about 30 dollars a week, today the average wage is about 800 dollars a week. about 27 times more, so I think the average worker is better off today than 90 years ago.
Alls you've done there is explain what the post is showing in different words 🤣 you explain inflation in wages and the picture explains it in purchasing power. Both make the exact same point that the dollar has lost 95% of its purchasing power in the past century.
Yes, but you work less to buy the same things, therefore people are better off. The value of the dollar is meaningless what matters is the quality of life and that has vastly improved over time, at least in first world countries.