2 ms·
> Productivity has increased by nearly an order of magnitude since the 1960s but real wage growth hasn't kept up You're thinking quite locally, while the labor
by TexanFeller 3y ago
> Productivity has increased by nearly an order of magnitude since the 1960s but real wage growth hasn't kept up
You're thinking quite locally, while the labor market is now largely global. What is our increase/decrease in productivity relative to our global competitors in Europe and Asia? Since we buy almost all our goods from them now, intuitively our wage increase/decrease would more closely track that than our local productivity.