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Stagnating wages for the middle class is a well known problem but most economists currently believe that it’s roots lie in the erosion of labor unions, stagnati
by pm90 6y ago
Stagnating wages for the middle class is a well known problem but most economists currently believe that it’s roots lie in the erosion of labor unions, stagnation of minimum wages and fiscal austerity measures. Illegal immigration specifically has been called out as something not making a big enough effect to warrant attention.
- fennecfoxen 6y ago“Most economists” are not quite so overtly political about it like this. There are of course many factors; globalization and trade is a big one affecting both labor and labor union power: competition from overseas, direct or indirect, easily eclipses competition from immigrants. The thing is that trade also has massive benefits to real wages, and has boosted national output substantially. Nuanced discussions will try to examine this tradeoff.