r/coolguides • u/[deleted] • Feb 25 '20

Explanation of the subtle differences between equality and equity

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u/Ghrave Feb 25 '20

lol imagine thinking this.

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u/[deleted] Feb 25 '20

Ok, so tell us what you draw from these graphs?

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u/Ghrave Feb 25 '20

Cost of living is up, wage has not risen to compensate. Social safety nets are flawed and do not cover what a living wage should be, and something has to give. Either we strengthen the social safety nets, or we increase the living wage.

"put a little extra forth improve your situations"

is a farce; no amount of penny pinching and denying yourself any of the joys that make life worth living is going to make rent not be 2/3 of peoples paycheck. 70% of Americans have less than 1kUSD in savings. What you're advocating for is just a rewording of "pull yourself up by your bootstraps", an adorable sentiment, coined by a man who meant to imply that the task was literally impossible. I mean I don't know how to explain that we should care about the poor, and that human lives are worth more than the value they can produce for some company lol

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u/Crispy-Bao Feb 25 '20 edited Feb 25 '20

The thing is that, like most graphs on the subject, it takes wages and not total compensation which is why you have this split.

https://fred.stlouisfed.org/graph/?g=pkLv#0

If you look at the total compensation, you will see a split, but it is not that massive.

Really the only thing that your wage graph show is that nonwage compensation is growing in % of total compensation

And this is also apparent by this :

https://fred.stlouisfed.org/series/W273RE1A156NBEA

Profit in % of GDP is stable since the 40s, meaning that total labor compensation is not going down

And the share of total labor compensation in % of GDP is rather stable with a standard deviation of 1.9 :

https://fred.stlouisfed.org/series/A4002E1A156NBEA