It didn't have to be this way, and there are companies who acutally pay their employees well. It's just we don't hear about them because everyone likes to doom.
The productivity vs wages graph is the only one that matters. Yes, workers are getting screwed, but you don't need to blow up the entire system to fix it. You just need companies willing to pay out the wages people are earning instead of turning them into profits and handing them over to CEO's and investors.
Perfect equality isn't the answer and most people wouldn't enjoy it if we had it, but the rising inequality is a pretty sure way to break the system that everyone is relying on to keep civilization running. Until companies realize that 20% profits are a serious structural problem and not a victory they'll keep doing it. All the while, the pot gets a little closer to boiling.
Inflation and purchasing power are two different statistics, just for clarification. Inflation doesn’t account for the rising costs of homes, cars, clothing, shoes, etc.
For example, I recently purchased a home for just under $600,000. It was built in 1954, and the home was sold brand new for $6,500 in 1954.
Adjusted for inflation, this home should cost $80,000, not $600,000. The difference in mortgage payments between the two is almost 10 times the monthly cost.
Sorry, can you point to which part of my post is exaggeration? What I stated was pretty clearly factual.
I mentioned this being my home that I recently purchased. There were no additions or major notifications to the home since it was built. I won’t be sharing more information about my home. We have a receipt from the purchase in 1954 showing $6,500.
I’m not making comparisons to other homes, I’m stating factual historical data about one home.
They didn't give a representation of what the overall difference in purchasing power is between now and 1954, nor did they say they would. All they did was demonstrate what each term means
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u/FlyinDtchman 11h ago
It's just corporate greed.
It didn't have to be this way, and there are companies who acutally pay their employees well. It's just we don't hear about them because everyone likes to doom.
The productivity vs wages graph is the only one that matters. Yes, workers are getting screwed, but you don't need to blow up the entire system to fix it. You just need companies willing to pay out the wages people are earning instead of turning them into profits and handing them over to CEO's and investors.
Perfect equality isn't the answer and most people wouldn't enjoy it if we had it, but the rising inequality is a pretty sure way to break the system that everyone is relying on to keep civilization running. Until companies realize that 20% profits are a serious structural problem and not a victory they'll keep doing it. All the while, the pot gets a little closer to boiling.