You're right! That's a term of art that can easily be misinterpreted by an uneducated reader. Rather than doing what the Eonomist tends to do and assume an edu

You're right! That's a term of art that can easily be misinterpreted by an uneducated reader. Rather than doing what the Eonomist tends to do and assume an educated readership, they should have defined any term not daily used by someone possessed of an education past that of the 8th grade or so. This would ensure that every single reader, every single time, without any exceptions, would attain full, proper, and correct understanding. No saying "real wages" - define it as nominal wage growth less inflation. And don't just say "nominal" or "inflation", define them. Immediately and in context, so that anyone can understand. Alternately, readers could put forth the minimal amount of effort required to Google any jargon (and "real pay" is pretty clearly jargon) they did not immediately know the definition of. I understand if some readers consider this work they should not be expected to do or otherwise an undue burden to which they refuse to rise.