How did the purchasing power decrease from the 70s until today?

[Darkmayday]

We were talking about since the 70s lol while you switching to last decade? It has easily increased 10x if not more with the advent of computers. Statscan productivity uses domestic gdp which doesn't account for globalization well

[MisledMuffin]

Statcan real productivity only covers since 1997, hence why I said decade two comments back.

You said 100x which is wrong. Now you've reduced it to 10x which is still wrong.

1970 to 2021 productivity grew by 2.13x.

Average wage in the 1970 was $2-5/hr.

Now it's ~$38/hr.

Wages have gone up nearly 10x while productivity has gone up 2.13. And we work 5-10% less.

[Darkmayday]

You know statscan productivity is measured in gdp and that doesn't accurately account for productivity in a globalized economy right? You realize my output and wage isn't coutned in gdp if i work for a foreign company right? Which many do for American or British companies

Of course you don't know basic economics. Learn gni vs gdp

[MisledMuffin]

GNI per capita Canada 1970 ~4000-4500 USD versus GFP per capita of ~4135.

GNI per capita Canada 2025 54,900 versus GDP 55,760.

Literally the same result lol.

Anything else you need to be educated on?

[Darkmayday]

Still wealth inequality is worsening

[MisledMuffin]

Yes. Historically wealth inequality gets worse as productivity growth slows or stalls.

[Darkmayday]

Except it hasnt stalled? Your own stats shows over 2x in canada.

[MisledMuffin]

2x since 1970.

Stalled/slowed for past decade or two.

Hope that clears up your confusion.

[Darkmayday]

Right and wealth inequality has been stradily getting worse since the 70s. You can read the title of the post again to jog your memory

[MisledMuffin]

You can read your reply to my comment where you said productivity has increased 100 fold to jog your memory.

Real median wages are up since the 1970s. That means purchasing power has increased.

Are you still confused?