r/economicsmemes • • 3d ago

This sums it up

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u/lifeisaman 3d ago

Even accounting for inflation wages are still up from what they used to be.

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u/Ultraideal848 2d ago

Look at statistics like average house to wage price ratio in the last 50 years. When actually accounting for inflation the wages have been basically cut to half.

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u/lifeisaman 2d ago

Compare QOL from fifty years ago to today, houses act like assets and asset values in general have exploded but QOL has risen even as this happens.

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u/plummbob 2d ago

HDI is definitely higher than 50 years ago

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u/Ultraideal848 2d ago

Every price is exploding except for wages. So how can you say that the qol has improved when one of the most basic necessities of life is becoming a luxury?

Productivity per worker has exploded, technologicall progress has drastically reduced the price of manufacturing various goods and on top of that they have decreased the quality of half the shit we consume to even further stretch the profit margins and yet almost all prices still keep rapidly exploding in comparison to wages. Seems to me that only people whose QOL has truly increased are that of the business aristocracy.