In real terms, the median human globally today is vastly richer than at any point during the twentieth century.
And the median American is also richer in real terms, both in terms of wealth and in terms of income.
Of course, that all assumes that you use a reasonable measure of inflation that’s stable, well-designed, and applied methodically and consistently over many decades.
Alternatively, you can cherry pick data points and go based on vibes, which lets claim whatever you want!
>Of course, that all assumes that you use a reasonable measure of inflation that’s stable, well-designed, and applied methodically and consistently over many decades.
Too bad the measure that everyone points to is far from stable¹; BLS's various CPIs² have been consistently and substantially modified over time, and not for purposes aligned with the interests of consumers³.
And the median American is also richer in real terms, both in terms of wealth and in terms of income.
Of course, that all assumes that you use a reasonable measure of inflation that’s stable, well-designed, and applied methodically and consistently over many decades.
Alternatively, you can cherry pick data points and go based on vibes, which lets claim whatever you want!