Quote:
Originally Posted by opendoor
I assume those 5% and 75% figures are inflation adjusted. I believe the point they're trying to make is that almost all of the real increases in wages have gone to the more affluent whereas for a lot of the 20th century increases were more equitable across society.
It's still a pretty useless stat though, especially when it's divided by neighborhoods whose character can change over time. Stuff like that needs way more context to be useful.
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For most of the last 2000 years the wealthy were so much better off than everyone else as to be damn near a different species, the poor starved to death, the wealthy has servants by the hundreds to take care of their slightest whim.
During the last 100 years we have been lucky enough for the 'poor' to catch up with the wealthy to a great degree, we all eat about as well, most have a place to live that is heated, access to healthcare is pretty well equal, in the last decade the wealthy have benefited (as have all of us) to access to a massively devalued fiat currancy and vast amounts of easy credit to stimulate the economy.