During the Bretton Woods era, the quasi-gold-standard that reigned until Nixon floated the dollar, hourly wage rates and productivity in the US were pretty clo

During the Bretton Woods era, the quasi-gold-standard that reigned until Nixon floated the dollar, hourly wage rates and productivity in the US were pretty closely correlated. In the years after, which saw a huge realignment in finance, the 70s oil crisis, and a general weakening of labour power, this relationship broke down, with an almost complete severance of the relationship. Cf. http://cloudfront.mediamatters.org/static/uploader/image/2015/07/09/epi_productivity_wages.png http://cloudfront.mediamatters.org/static/uploader/image/201...