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But this isn't wage growth. When you switch between different socioeconomic profession groups, the wage of your previous socioeconomic group doesn't change beca
by JAlexoid 8y ago
But this isn't wage growth. When you switch between different socioeconomic profession groups, the wage of your previous socioeconomic group doesn't change because your wages have changed. Socioeconomic group isn't for life, you know. Once you become rich, you stop being poor.
Except that wage growth debate isn't about opportunity. He's trying to argue about oranges, when the initial issue is about apples.
Arguments about wage growth are about costs, productivity and compensation.
As in - if you're 2x more productive at doing the same job, then the gains are deposited somewhere.
The argument in the end is that productivity gains are not distributed at a fair level. Equal isn't ever a requirement for a stable society, fair is enough.
- refurb 8y agoIt's just as much wage growth as the typical "wages haven't grown for the lowest quintile", which doesn't track what the actual job was either. And the folks tracked in this study were from 40 to retirement, so I don't see a change in career being a major driver for the income growth.