3 ms·
That's very clearly untrue. There are plenty of studies showing this is not the case. Almost all workers are significantly more productive but wages have remai
by and0 9y ago
That's very clearly untrue. There are plenty of studies showing this is not the case.
Almost all workers are significantly more productive but wages have remained flat for a long time.
- harryh 9y agoMean productivity has increased while median wages have stayed flat. What people think is a story about wages decoupling from productivity is actually a story about the variation of productivity among workers getting higher. You can tell this is true because labor's share of income (vs capital's share) has remained fairly constant. It's the distribution of this share between different workers that has changed.
- and0 9y agoDo you have any examples of these jobs that are now more vs less productive? I'd say the average Starbucks / fast food worker are significantly more productive while making less comparatively. Labor's share of income vs capital's has not remained constant. Not even close.
- harryh 9y agoLabor's share of income vs capital's has not remained constant. Not even close. Sure it has: https://taxfoundation.org/walkthrough-gross-domestic-income https://taxfoundation.org/walkthrough-gross-domestic-income
- and0 9y agoNo, it hasn't. Tax foundation is a conservative think tank, they're not a trustworthy source for this info. https://fred.stlouisfed.org/series/W270RE1A156NBEA https://fred.stlouisfed.org/series/W270RE1A156NBEA Every time I engage with a libertarian (always a pointless endeavor) I feel like I have to take a shower after. Just.. ugh.
- harryh 9y agoThe graph in your link is reproduced almost exactly in the link I shared (as chart 1). It doesn't take into account non wage income and a few other things.