But the real average wage adjusted for inflation has decreased for a long time.
Is this really true? If you blindly apply inflation calculators to wage statistics, you get this result.
But on the other hand, people earning average wages live a much better life (in terms of goods/services consumed) than people in the past. Even the present day poor live what would have been called a "middle class" lifestyle in the 70's.
Something doesn't add up. Can anyone shed light on this?