11 ms·
gdp per capita is not a good proxy for wages.
by leetcrew 6y ago
gdp per capita is not a good proxy for wages.
- dcolkitt 6y agoLabor share of GDP went from 64% in 1950 to 58% today. That means wages grew slightly slower than GDP per capita, that’s certainly not enough to mean wages grew sub-exponentially. For wages to grow linearly, labor share of GDP would have to fall exponentially towards zero. https://www.bls.gov/opub/mlr/2017/article/estimating-the-us-labor-share.htm https://www.bls.gov/opub/mlr/2017/article/estimating-the-us-...