Low wages are not a problem per se. In the situation of low wages what is supposed to happen is the best workers either (a) move to competitors or (b) just str

Low wages are not a problem per se. In the situation of low wages what is supposed to happen is the best workers either (a) move to competitors or (b) just strike out on their own and start their own business. If businesses are colluding on low wages (and it's very clear they are) then eventually we should see people starting new businesses. This dynamic by the way is absolutely clear in East Asia and China, in particular. Wages are rising fast and the best workers aren't afraid to bounce away for higher salary or, if it comes down to it, to buckle down and strike out on their own. But this dynamic has been completely lost in the US. Even as the economy "improves" we are seeing labor market fluidity has collapsed the US [1]. This has been going on since the 80s. Entrepeneurship and new firm formation have been declining for the last 40 years [2]. The end result: lots of people stuck in jobs they don't like and businesses, knowing full well that their workers are stuck and won't go, offer essentially zero wage increases. [1] https://www.federalreserve.gov/econresdata/feds/2016/files/2016015pap.pdf https://www.federalreserve.gov/econresdata/feds/2016/files/2... [2] https://www.nytimes.com/2017/09/20/business/economy/startup-business.html https://www.nytimes.com/2017/09/20/business/economy/startup-...