2 ms·

I would say the best analysis of this is by Peter Turchin: http://peterturchin.com/cliodynamica/population-immiseration-in-america/ http://peterturchin.com/clio

• kbutler 8y ago
  Notice Turchin's exclusions and his analysis: Wage stagnation primarily for unskilled men (women's wages have risen a lot, skilled labor has risen as well). The reason? "The TL;DR answer is that it was a combination of immigration, loss of manufacturing jobs overseas, massive entry of women into the labor force" So a drastically increased supply of labor depresses prices of labor. He also avoids "household income" because households are smaller (fewer children, divorce) and because of two earners, but those very things increase economic "quality of life" measurements for individuals in those households ($ per capita). He also focuses on pre-tax/pre-transfer income, avoiding the net effect of our progressive taxation/transfer regime. If we include those effects, we get a different picture: https://www.brookings.edu/opinions/the-trend-toward-inequality-has-slowed-but-so-has-income-growth/ https://www.brookings.edu/opinions/the-trend-toward-inequali...