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From The Chairman: Peak Strategy 2014
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<blockquote data-quote="59 Dano" data-source="post: 1472574" data-attributes="member: 23516"><p>That's okay, you'll catch on at some point. The level of compensation doesn't matter. The purchasing power of the compensation does.</p><p></p><p>Assuming that wages had increased at the same rate as productivity, you'd be no better off now than in 1973 because prices would have increased at the same rate. Tripling your income doesn't accomplish anything when prices triple too.</p><p></p><p></p><p></p><p>The average family income in 1973 was $12,000.</p><p>The average family income now is in the low $50,000.</p></blockquote><p></p>
[QUOTE="59 Dano, post: 1472574, member: 23516"] That's okay, you'll catch on at some point. The level of compensation doesn't matter. The purchasing power of the compensation does. Assuming that wages had increased at the same rate as productivity, you'd be no better off now than in 1973 because prices would have increased at the same rate. Tripling your income doesn't accomplish anything when prices triple too. The average family income in 1973 was $12,000. The average family income now is in the low $50,000. [/QUOTE]
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