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Undeniably this has been a trend downward in wages into wage stagnation. The share of GDP to workers is on a near 50 year decline since the mid-70s[1]. Wages an
by drawkbox 10y ago
Undeniably this has been a trend downward in wages into wage stagnation. The share of GDP to workers is on a near 50 year decline since the mid-70s[1]. Wages and raises, once a staple of America and working hard to achieve a good life, has become lost and efficiently worked out of the system.
Wage stagnation for 15 years heavily and 40 years overall does a number on the wallet while the costs of everything are far beyond inflation[2].
America has lost the ability to give meaningful wage increases to keep growth going in a consumer based economy. When the consumer based economy is low on fuel (cash in wallets and accounts) then it sputters.
Back in the day America viewed wages as a sign of good work and companies saw benefits of increasing workers pay. This led to more money in the system, employees that buy and recommend where they work, better customer service, better informed employees and more.
To "Make America Great Again" either raise wages as a function of work over time/productivity or drive down the dollar so Americans can get raises again. In both cases the wealthy will have to be willing to pay their part, but they didn't get rich by paying.
[1] https://fredblog.stlouisfed.org/2016/06/2393/ https://fredblog.stlouisfed.org/2016/06/2393/
[2] http://fortune.com/2015/09/01/heres-the-real-reason-you-dont-make-enough-money/ http://fortune.com/2015/09/01/heres-the-real-reason-you-dont...