Thursday, April 26, 2007
Racing to Stay in Place, Even in the Good Old Days
by Ken Houghton
The short version is that, within estimation error, the median income was no more valuable in 1985 than it was in 1970.
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.
Labels: Economic History, Income Inequality
