> drop correlates well against middle class wealth, which has plunged steadily, again, since the late 60's Another correlate, and IMO more compelling, is the s

> drop correlates well against middle class wealth, which has plunged steadily, again, since the late 60's Another correlate, and IMO more compelling, is the size of the labor pool. Over the time frame you cite, the domestic and international labor that could viably compete for jobs grew massively and nonlinearly relative to production and end demand. In other words, an oversupply of labor was and remains a big drag on wage growth.