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Numerical wages decreased steadily over the period, but deflation (brought about from immense production) grew faster. Real wages & living standards boomed.
Yep. I can't remember if it was in this video or another just after this one (the one featuring Grover Cleveland) where I explained this. But yes, especially in the 1880s, real wages rose. Overall standard of living undoubtedly increased between 1865 and 1900.
The robber barrons are a complete myth. Only dropped prices, increased quality, & provided relatively high wages & benefits for their workers/constituents. The things you could buy here were cheaper & better than anywhere else in the world.
Follow me on Twitter:
twitter.com/Professor_Barth
If you enjoy this channel and want to support:
www.patreon.com/professorbarth
Buy my book:
www.amazon.com/Currency-Empire-Seventeenth-Century-English-America-ebook/dp/B08L6ZPV19/ref=sr_1_1?keywords=currency+of+empire&sr=8-1
History of Money playlist:
ua-cam.com/play/PLinliDgP9EbScxfH5wxoX8I_HNRSElqZ_.html
Foundations of Western Political Thought playlist:
ua-cam.com/play/PLinliDgP9EbRu4qZn8SJFgysSQB5I4c-L.html
Numerical wages decreased steadily over the period, but deflation (brought about from immense production) grew faster. Real wages & living standards boomed.
Yep. I can't remember if it was in this video or another just after this one (the one featuring Grover Cleveland) where I explained this. But yes, especially in the 1880s, real wages rose. Overall standard of living undoubtedly increased between 1865 and 1900.
The robber barrons are a complete myth. Only dropped prices, increased quality, & provided relatively high wages & benefits for their workers/constituents. The things you could buy here were cheaper & better than anywhere else in the world.
Back then people took pride in what they did, having a good wage helps with that
Why US flag is so similar english East inda company which was a private colonial company and involved in opium trade and caused opium war?