JensSpahnpasta@feddit.org to Technology@lemmy.worldEnglish · 1 month agoThe Productivity Paradox: Why Technology Makes the Economy More Efficient But Most People No Richerwww.fullstackpm.techexternal-linkmessage-square72linkfedilinkarrow-up1271arrow-down111
arrow-up1260arrow-down1external-linkThe Productivity Paradox: Why Technology Makes the Economy More Efficient But Most People No Richerwww.fullstackpm.techJensSpahnpasta@feddit.org to Technology@lemmy.worldEnglish · 1 month agomessage-square72linkfedilink
minus-squarepie_enjoyer@lemmy.worldlinkfedilinkEnglisharrow-up1arrow-down2·1 month agoMost people ARE richer. Median wage growth since 1990 is over 40% and the quality of products significantly increased.
minus-squareHertzDentalBar@lemmy.blahaj.zonelinkfedilinkEnglisharrow-up3·1 month agoThat’s definitely true, but the cost of some things have greatly out paced that like housing or travel.
minus-squarepie_enjoyer@lemmy.worldlinkfedilinkEnglisharrow-up1arrow-down1·1 month agoHours of work/sqf ratio is pretty much unchanged since 1990, BUT the quality of housing now is much better than it was 36 years ago. Travel cost almost exactly followed inflation in the last 36 years, but again, travel now is significantly better than it was back then. Most of the percieved price increase comes from the lifestyle inflation and just idolizing childhood.
Most people ARE richer.
Median wage growth since 1990 is over 40% and the quality of products significantly increased.
That’s definitely true, but the cost of some things have greatly out paced that like housing or travel.
Hours of work/sqf ratio is pretty much unchanged since 1990, BUT the quality of housing now is much better than it was 36 years ago.
Travel cost almost exactly followed inflation in the last 36 years, but again, travel now is significantly better than it was back then.
Most of the percieved price increase comes from the lifestyle inflation and just idolizing childhood.