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0 pointseru6y ago0 comments

I think you'd need to do the opposite: take 70k today, and figure out what the inflation calculator suggests about it's value in 1950 dollars. Just using your numbers, that would be about 6.5k.

Now compare with median annual incomes in 1950. Asking Google about '1950 median american income' gives 'Average family income in 1950 was $3,300.' Not quite what I wanted to know, but close enough. (We are looking at per worker income, and would probably be more interested in median than average.)

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mzi6y ago

I found this link[0] that tells us that the median income - adjusted for inflation - seems to be rising since 1967.

https://www.davemanuel.com/median-household-income.php

nbp1601306y ago

This is measuring household income, not individual income. Real household income isn't increasing because wages are rising, it's increasing because more people in a household are working.

eruOP6y ago

On the other hand, household sizes have decreased.

(Though not sure about workers per household.)

> [...] it's increasing because more people in a household are working.

More people are working outside the house and participating in the market economy. Women worked before, domestic chores don't show up in these statistics.

Presumably they produce a lot more working outside the house: to estimate a monetary value of what they did before compare with the prevailing wages for nannies and housekeepers.

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