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this post was submitted on 01 Aug 2023
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Communism
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When you were starting out, you were the inexperienced person. You do indeed make more money with experience, but that has NOTHING to do with the chart. It shows averages today and fifty years ago. Your commentary on it implies that the workplace has somehow become inexperienced in that fifty years, which is patently absurd. Workers are simply paid less today, regardless of experience level.
Of course some things have improved in fifty years. But technology isn't tied to inflation.
In fact technology should have made things much cheaper. In 1970, prople expected to be able to afford the same life style working fewer hours.
Like I wrote. In 1970, a good Union job could support a family of four with plenty of luxuries. A high school graduate could be instantly self supporting with a minimum wage job paying for a one bedroom apartment and a car. By you chart the years to pay off the debt went up about 75% from 1923 to 1973 and more than doubled from 1973 to 2013.