What cost $275000 in 1978 would cost $894401.29 in 2009 adjusted for inflation.

What cost $175000 in 2009 would cost $53806.94 in 1978 adjusted for inflation. Just wondering what correction you used.

Deregulation brought more jobs, but it lowered the value of those jobs.

Capitalism may have it's evils, but the alternatives will put you in an even worse position. We are caught on the twin horns of pilot oversupply and rising tax rates that can easily consume up to 50% of your salary depending on your location.

Without massive change in supply or demand and rates of taxation, regaining the former glory is impossible. At best it remains highly unlikely for the foreseeable future.