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Can someone point to a book that gives a good overview of the wage stagnation that started in the 70s (in the US), with the decline of unions and those jobs bei
by Isamu 4y ago
Can someone point to a book that gives a good overview of the wage stagnation that started in the 70s (in the US), with the decline of unions and those jobs being sent outside of the country?
- randomdata 4y agoCould there be one? The topic of wage stagnation, of course, is a bit of a sleight of hand. Incomes have held stagnant for hundreds of years; as far back as the data goes. We witnessed wage growth through the period of industrialization because wages were new and starting from effectively zero. Pre industrialization, people mostly sold things rather than their time. As more time was sold, wages started to grow. Once we reached the point where most commerce was in selling time and not things incomes became maxed out by wages, leaving no additional room for growth. The only way wages can continue to grow now is for incomes to grow, and that hasn't ever happened in recorded history.