Re:Summers: Inflation Reached 18% in 2022 Using the Governme...
by tossandthrow on Saturday April 13, 2024 @05:22PM
(#40026282)
Yes, so I am saying that a median income today could sustain a 6 person household if you were allowed to fix your comfort level to the level of the 60s. That is 3 more than a single median income supported in the 60s.
I am definitely not trying to paint a rose-glass view of the past. I am saying that we do have more prosperity today than we had 60 years ago.
I am also saying that we pay of a lot of time to have things that provide diminishing returns. (Ie. would you rather have flush toilets or access to facebook - style of reasoning). Maybe the famous 80% value for 20% cost is also inflating?
I am definitely not trying to paint a rose-glass view of the past. I am saying that we do have more prosperity today than we had 60 years ago.
I am also saying that we pay of a lot of time to have things that provide diminishing returns. (Ie. would you rather have flush toilets or access to facebook - style of reasoning). Maybe the famous 80% value for 20% cost is also inflating?