Replying to Avatar Carl B Menger

In 1971 a worker earning the median-wage needed to work 150 hours to earn one year of college tuition fees ($617). Fast forward to 2022 a median-wage worker needed to work 500 hours to earn one year of college tuition fees ($8,804), more than three times longer!

The challenge of affording a median house tells a similar story: A median-wage worker must work 40 percent longer to earn the house in 2022 compared to 1971.

WTF happened in 1971?

34
Mindaugas 2y ago

Yeah, this is good to get the thinking started. But it should not stop there. Gold standard was not perfect either. Even before 1971 USA was not my first choice for residence.

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