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>>Labour productivity has been developing faster than wages for the last 50 years. This false claim was popularized by the EPI, which is funded by unions. The
by ETH_start 3y ago
>>Labour productivity has been developing faster than wages for the last 50 years.
This false claim was popularized by the EPI, which is funded by unions.
The reality is that worker compensation has almost perfectly tracked labor productivity:
https://www.brookings.edu/articles/sources-of-real-wage-stagnation/ https://www.brookings.edu/articles/sources-of-real-wage-stag...
Comparing productivity with one measure of inflation to compensation using another measure of inflation is the way the EPI produced its false claims, as the above article explains.
>>How do you mean that there has been a decline in market liberalism?
Increase in regulatory compliance costs. Increase in the percentage of occupations requiring a license. Increase in the size of the Code of Federal Regulations. Increase in the percentage of GDP constituted by government spending. Increase in the number of regulatory agencies. Increase in regulatory restrictions on housing development, particularly in the highest productivity economic zones.