If you think the average wage in 1950 can get you more stuff than 2020, educate me then.
The only thing that got more expensive relatively speaking is housing. Which kind of make sense because land area don't tend to change.
Look around at your house and answer if you could get the same stuff (or even, poor replacement of the same stuff) if you're at the same percentile of income in 1950s.
There are more 'things' as a function of decreased costs of production, including, get this, importing lots of cheap goods from overseas.
1950 to 2020 looks good on paper, until you realize that the bulk of the wage growth happened prior to 1990. Since 1990, the S&P 500 has gone up approximately 10x. Meanwhile, wages have approximately doubled. That means in the last 30 years, the wealth gap has increased. If you consider only minorities, the picture is even worse.
It's almost like, US workers are losing their bargaining power for some reason. If you consider outsourcing, various trade agreements, and white collar immigration, those are all net-negative on US labor. Some demographics have been disproportionately impacted than others, just as predicted.
The only thing that got more expensive relatively speaking is housing. Which kind of make sense because land area don't tend to change.
Look around at your house and answer if you could get the same stuff (or even, poor replacement of the same stuff) if you're at the same percentile of income in 1950s.