No, my premise was that there was no change in purchasing power.
Originally Posted by pjorourke
I claim that premise is unrealistic.
Originally Posted by discreetgent
Based on what standard of measure DG?
I can, and have in the past, provide(d) to you a paper (prepared by the Federal Reserve) that discusses the "cost of living" over the course of the last century. It measures that cost in "time". Goods and services are much lower cost today (when measured in the minutes of work required to obtain them) than they were in your glory days of low disparity.
Maybe there was not as much disparity between the top and the bottom...but everyone was spending more of their "time" to buy basic goods and services. Are we better off with less disparity, but higher cost of goods and services to everyone, or more disparity but lower cost of goods and services to everyone?
I know...I know...Yeah, but we can do better.