Thursday, April 26, 2007

Racing to Stay in Place, Even in the Good Old Days

by Ken Houghton

From a book on Business Process Management changes:
Flash forward [from 1970] to 1985. The median household income was around $23,618, more than double what it was in 1970 ["around $8,700"], although the cost of living more than kept pace with a 277% increase.

The short version is that, within estimation error, the median income was no more valuable in 1985 than it was in 1970.

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