I wish the author would have done the due diligence of questioning why his data might not have the full story.
- Looking at income without looking at working hours can mask the fact that working more hours looks like income growth at the expense of quality of life.
- where is this money going? Housing spending apparently has not grown, but are these same workers building equity or renting?
- what amount of income is spent on healthcare vs 50 years ago?
- Other quality of life factors? What are low income workers actually getting with their increased wages?
- Is the way with which we characterize inflation giving an incomplete picture of the experience of all income classes (the rich and the poor don't buy the same things, and prices don't shift evenly)
>- Looking at income without looking at working hours can mask the fact that working more hours looks like income growth at the expense of quality of life.
hours worked has gone down in the US in the past few decades, not up.
- Looking at income without looking at working hours can mask the fact that working more hours looks like income growth at the expense of quality of life.
- where is this money going? Housing spending apparently has not grown, but are these same workers building equity or renting?
- what amount of income is spent on healthcare vs 50 years ago?
- Other quality of life factors? What are low income workers actually getting with their increased wages?
- Is the way with which we characterize inflation giving an incomplete picture of the experience of all income classes (the rich and the poor don't buy the same things, and prices don't shift evenly)