While reading same book Generation of Sociopaths: How the Baby Boomers Ruined America, I find new term called 'in absolute terms'. This sentence I find:
Though economic conditions of the Seventies may have been the worst since the Great Depression, they were not so bad in absolute terms: living standards continued to rise and performance was better, overall, than it would be in subsequent recessions.
I search Longman's Dictionary. It gives "in absolute terms measured by itself, not in comparison with other things"
Example, "In absolute terms wages have risen, but not in comparison with the cost of living."
I still no understand. Does it mean 'absolutely'?