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SrslyJosh

> The middle class have financially benefited very little from the past 20+ years of productivity gains.

More like the last 50 years.

https://www.pewresearch.org/short-reads/2018/08/07/for-most-...

"For most U.S. workers, real wages have barely budged in decades"

The TL;DR is that in 1964 the average hourly wage was $20.27. As of 2018, average hourly wage was $22.65.

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1974 median individual income was $28k 2024 median individual income was $45k

Over 50 years that’s a decent amount of growth. Obviously it could be better but it’s not nothing.

Source: https://fred.stlouisfed.org/series/MEPAINUSA672N

Sure but pretty sure with your 1974 28k you could buy a nice house, whereas with your 2024 (equivalent) 45k you can buy an OK car, not a house

In theory this graph is already inflation-adjusted.

In practice, I think this shows why economic statistics are borderline lies.

The problem is inflation. We have no way to reliably measure it over any long time-frame. Make the time long enough, and it even stops making sense as a concept.

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