121
The Productivity Paradox: Why Technology Makes the Economy More Efficient But Most People No Richer
(www.fullstackpm.tech)
This is a most excellent place for technology news and articles.
Wages have increased a huge amount from the 1980s
Your graph is deceiving because it starts at 20 and not 0 on the y axis. It shows a very modest increase in wage, there are much better charts out there that plot wage growth Vs productivity growth. This makes the theft all the more obvious.
This chart uses mean productivity and MEDIAN wages. You posted a chart meant to deceive.
I'm not OP, but to play devil's advocate:
Wages have not raised as quickly as rent has raised, unfortunately. As per the U.S. Department of the Treasury (posted during the Biden administration):
This is inflation-adjusted, so it is comparable to your data. My point here is that while average wages have increased, average available spending money after paying for basic necessities has likely significantly decreased.
Yes, because the US doesn't build housing
Now compare wages vs inflation, and wages vs GDP. GDP of developed countries has climbed dramatically since the 80's, while wage growth has slowed to a crawl relatively.
One must ask themself: where did all the money go?
It sure looked like it chartered a private jet to Venice Italy to rent out entire city blocks and get married in utter opulence, to me.
I already compared wages vs. inflation
There's literally four inflation measures in this graph. Did the image load for you?