221–230 of 573 posts
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What's the question I should be asking, and what data answers it? I'm genuinely asking
Median household income is the stat usually used to measure income and it's still increasing.
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>the amount of labor being generated per person has not really changed im not really understanding what you mean. i dont get how labor is generated, in particular. do you mean to say the amount of total hours dedicated to labor per person or something else?
Probably to referring to hours worked, eg. https://fred.stlouisfed.org/series/AWHAETP
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While you are able to look up someone's definition of abject poverty, the only definition that is relevant in this context is the one held by the author of the earlier comment. It is unlikely you can look up his definition (before he replies to those who have asked for the definition in force).
> the only definition that is relevant in this context is the one held by the author of the earlier comment. This is absolute nonsense. We use common language to refer to common things in understandable ways in order to communicate with each other. You don't get to just handwave baldly incorrect statements as "well maybe he just has a different personal definition" without basically rendering literally all conversati…
Common doesn't mean ever-present. In practice, it is impossible for everyone to converge on a shared understanding for all terms. There are provably many people in the world who have never even heard the term "abject poverty" before. They cannot possibly understand what the term means to you. Fundamentally, "abject poverty" can only mean in that comment what the author believes it means. That may overlap with your understanding, but it also may not. We can also prove that he is not a mind reader and thus cannot tune it to your understanding. He is limited to his understanding and his understanding alone.
A good faith actor who believes there may be a discrepancy in understanding will seek clarification. That is what a discussion forum is all about. If one does not want to participate in discussion, why be here?
People are misreading the conclusion - the Covid related drop is normal and matches previous episodes, but the massive overall drop since 2000 is not. The situation on the ground is unchanged - the amount of labor being generated per person has not really changed, but the overall pie has grown massively around us.
not true, labor productivity has been steadily increasing: https://fred.stlouisfed.org/series/OPHNFB
workers are simply capturing less of the economic value generated by their labor.
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> All the ones I know of use questionable methodology like: "being able to afford a 2 bedroom apartment at median wage". Well, that's (at minimum) what you need to raise a family and replace yourself in the labor pool.
That's a laudable goal, but hardly "abject poverty"
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>and half of the US is living in abject poverty Source? All the ones I know of use questionable methodology like: "being able to afford a 2 bedroom apartment at median wage".
> All the ones I know of use questionable methodology like: "being able to afford a 2 bedroom apartment at median wage". Well, that's (at minimum) what you need to raise a family and replace yourself in the labor pool.
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Source for this statistically?
Bottom 50% is increasing income with the top 10%, it's the middle class that's declining in the last 5 years. This was a quick google search, so I'll ask you to provide a source that's contrary else your comment was purely rhetorical and made in bad faith.
The actual labor share of income is significantly higher when you include employer contributions to employee health insurance premiums. Healthcare costs have been rising faster than overall inflation for decades, and while many of those costs are passed on to employees the employers have also absorbed a significant chunk. If we want to increase the labor share then we'll drive down healthcare spending. And no, there'…
Do other countries' state healthcare system costs count towards their labor share of income? If not, it seems sensible not to account for them that way in the US, or you're creating a much more serious apples and oranges problem for international statistics (which are often cited/compared for these figures)...