This is from an article titled “Are We Going to Be the Flintstones or the Jetsons?” by the Daily Take from the Thom Hartmann Program (February 17, 2014).
“Back in 1966, TIME magazine published an article that looked ahead toward the future, and discussed what the rises of technology and automation would mean for working-class Americans. From the time of George Washington until the presidency of Ronald Reagan, with a few blips for wars, as American workers became more productive, their wages went UP or their working hours went DOWN, or both. (emphasis added)
Even though productivity has increased 400% since 1950, Americans are working, on average, just two hours per week less, and are paid the same or in many cases even less than they were paid in 1950. (emphasis added)
If productivity is four times higher today than it was in the 1950’s, then Americans should be able to work just ten hours per week to afford the same 1950’s lifestyle when a family of four could get by on just one paycheck, own a home, own a car, put their kids through school, take a couple vacations a year, and retire comfortably.”
I don’t think that my opinion or any commentary should be needed for this statement. Read the article in its entirety.
PS: It ain’t gonna get much better soonerer than laterer. . .