Pages tagged “middle class”
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Things Are Better, But Let's Not Pop the Champagne Just Yet
Ah, the eternal tug-of-war between "things were better back in my day" and "look how far we've come." Art Woolf's latest Substack dispatch, "Things Are Better Today, Really," offers a counterpoint to claims of wage stagnation since the 1970s by populists like Bernie Sanders. Woolf highlights a 34% real increase in median family income from $79,000 in 1969 to $105,800 in 2023 (adjusted dollars), and a 20% rise in median household income to $83,000 over that same period. He also emphasizes qualitative improvements — such as advancements in consumer goods and medical technology — which inflation metrics often understate, that lead to an improved quality of life.
Written by Ben Kinsley
October 28, 2025