[lbo-talk] barbaric?

Doug Henwood dhenwood at panix.com
Mon Mar 5 13:26:34 PST 2007


On Mar 5, 2007, at 3:58 PM, andie nachgeborenen wrote:


> GDP per
> capita has doubtless grown over a generation, but
> (check me on this, Doug) my understanding is that real
> wages are flat or down, while inequality has grown a
> great deal.

Real cumulative change, 1973-2005

GDP per capita 73.6% median household income 15.8% average hourly wage -11.3%

Almost all the gain in median household income happened between 1993 and 1999. Gains of the late 1980s were mostly undone in the early 1990s. About a third of the 1993-99 gains were undone between 2000 and 2004.

Incomes of the poorest quintile rose 10% between 1973 and 2005; for the richest 5%, they were up 78%.

Doug



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