Average income grows faster than inflation because of real economic growth.
In the U.S. we've had positive inflation numbers for most of the last 80 years, which has coincided with significant across-the-board improvements in standard of living.
In the U.S. we've had positive inflation numbers for most of the last 80 years, which has coincided with significant across-the-board improvements in standard of living.
http://www.bloomberg.com/news/2012-10-02/top-1-got-93-of-inc...
- antibiotics
- health insurance
- air conditioning
- telephones
- TVs
- washing machines
- meat
- automobiles
- air travel
- medical imaging
- computers