"Prior to the mid-1970s, Americans' incomes, no matter their level, generally rose in step with overall economic growth. But that changed in the late 1970s, with the rich capturing the lion's share of economic growth, while middle-class and lower-income workers eked out gains far below par."
Aimee Picchi at CBS News writes that "[i]n 2018, the typical full-time worker earned about $50,000—but if that same worker had kept up with the economy's expansion, they would have earned $92,000 annually."
Tuesday, September 15, 2020
"Gilded Age Levels"
Labels:
1970s,
class,
economic history,
economics,
politics,
twentieth century,
twenty-first century
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