In fairness, incomes have been stagnant since the dawn of time. Wages only saw a period of growth because wages were only invented a couple of hundred years ago. Selling time is a product of industrialization. Before that, people only sold things. Now that the vast majority of the population only sells their time, there is nowhere left for wages to go.
During the transition, if 90% of your income is from selling things and 10% selling your time the first year, 50% selling things and 50% selling your time the next year, and 100% selling your time in the third year – there’s your wage growth. 900% growth in just three years! How wonderful! Except your income didn’t change, so…
In fairness, incomes have been stagnant since the dawn of time. Wages only saw a period of growth because wages were only invented a couple of hundred years ago. Selling time is a product of industrialization. Before that, people only sold things. Now that the vast majority of the population only sells their time, there is nowhere left for wages to go.
During the transition, if 90% of your income is from selling things and 10% selling your time the first year, 50% selling things and 50% selling your time the next year, and 100% selling your time in the third year – there’s your wage growth. 900% growth in just three years! How wonderful! Except your income didn’t change, so…
Such worthless pedantry.