During the job I had in the ’90s, we originally got our pay in the form of cash in an envelope, but at some point they switched over to biweekly paychecks. It was a bit of an adjustment.
Much as I hate to agree with Night-Gaunt49 on anything, s/he’s nearly right about the stagnant middle-class standard of living. But several factors have masked it so most people don’t get to think about it.
First, there’s the explosion of technology which has hugely increased the efficiency of business and also expanded consumer choice so we are distracted from the fact that most people aren’t living that much better than we were a decade or two or three ago.
Second, there is the intrusion of elements of freedom into India and China, giving us more for our money, even as inflated as it is. And third, while Betty Friedan was right that the woman’s place is where she wants to be and not just in the home, two-income families have helped the middle class run in place while not making much progress.
Sad to say, where we are today is on the brink of a collapse of our standard of living, if not for the current generation, then certainly for the next. Sadder yet, this will be blamed not on the choke-hold of government that is responsible but on what little free market remains, leading to the potential for a real death-spiral of the economy. For once, I’d love to be wrong, but unfortunately history is on my side.
In 1957 there was an ad in the local paper: Could you write a check for $250 tomorrow? That is the cost of one week in the hospital (Ad for an insurance company) That was also about the cost of a TV at that time. If consumer electronics had risen at same rate, you’d now be paying over $10,000 for a TV.
Dkram about 13 years ago
Know that feeling..\\//_
alleyoops Premium Member about 13 years ago
Things haven’t changed. We are still getting underpaid in inflated dollars.
tuslog64 about 13 years ago
Considering that a new military recruit got $78/ monthtwenty years later.
Number Three about 13 years ago
Awwwwww… LOL.
xxx
Dkram about 13 years ago
My dad was in when WWII started, he used to call it 21 dollers a day, once a month..\\//_
jppjr about 13 years ago
In the ’70’s, my first electric bill was $4.00+ a month…but minimum wage was $1.60 hr. too…
Sherlock Watson about 13 years ago
During the job I had in the ’90s, we originally got our pay in the form of cash in an envelope, but at some point they switched over to biweekly paychecks. It was a bit of an adjustment.
pschearer Premium Member about 13 years ago
Much as I hate to agree with Night-Gaunt49 on anything, s/he’s nearly right about the stagnant middle-class standard of living. But several factors have masked it so most people don’t get to think about it.
First, there’s the explosion of technology which has hugely increased the efficiency of business and also expanded consumer choice so we are distracted from the fact that most people aren’t living that much better than we were a decade or two or three ago.
Second, there is the intrusion of elements of freedom into India and China, giving us more for our money, even as inflated as it is. And third, while Betty Friedan was right that the woman’s place is where she wants to be and not just in the home, two-income families have helped the middle class run in place while not making much progress.
Sad to say, where we are today is on the brink of a collapse of our standard of living, if not for the current generation, then certainly for the next. Sadder yet, this will be blamed not on the choke-hold of government that is responsible but on what little free market remains, leading to the potential for a real death-spiral of the economy. For once, I’d love to be wrong, but unfortunately history is on my side.
tuslog64 about 13 years ago
In 1957 there was an ad in the local paper: Could you write a check for $250 tomorrow? That is the cost of one week in the hospital (Ad for an insurance company) That was also about the cost of a TV at that time. If consumer electronics had risen at same rate, you’d now be paying over $10,000 for a TV.