Earlier quoted context omitted.
> An increase income range is an increase in income. I think I see the issue here. I am talking about the population as a whole, you are talking about an individual. It is true that over time individuals tend to move up the income ladder. And that more capable people move higher up the ladder thanks to being more capable, free of disability that hinders their achievement. However, the steps of the ladder have remaine…
But they are. You make roughly a million dollars more in your life time than you would if you didn't graduate college. https://cew.georgetown.edu/wp-content/uploads/Exec-Summary-w... Inflationary dollars are largely irrelevant as everything is more expensive than it was decades ago due to inflation.
That is not the same as incomes increasing because of higher education. Incomes have held stagnant for a number of decades, even as more and more people attain higher and higher levels of education. If 0% of the population had a higher education or 100% of the population had higher education, your income would remain the same as it is now.
McDonalds isn't going to pay someone flipping burgers a million dollars more over the span of their burger flipping career simply because they attained a physics degree. That is not how the economy works at all. If 100% of the population had a physics degree, someone is going to be left flipping burgers. 100% of the population are not going to be working on solving string theory. The economy cannot function in that manner.
Inflationary dollars are relevant as that is how we measure stagnant incomes. An income that tracks inflation is stagnant. Incomes are stagnant. We are not talking about spending.