80% of Americans perceive their standard of living is higher than their parents. Even though only around half of recent cohorts have better income, ed, and job than parents. Because tech is better?pic.twitter.com/DC1Q9qcb2P
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Perceptions and measured outcomes are hard to separate. I'm not sure it's always been this way, but I'm constantly amazed how strongly people hold on to them, even when faced with strong evidence to the contrary.
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CPI is weird over long periods. We try to adjust the level of revenue (bc personal income is pre expenses) for a basket of expenses instead of looking at the equivalent of net margin or ebitda margin.
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