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That doesn't match what the article is talking about, though. According to the article, the 20 years of wage stagnation was '73-'94—not the last 20 years.
by mcphage 1y ago
That doesn't match what the article is talking about, though. According to the article, the 20 years of wage stagnation was '73-'94—not the last 20 years.
- NoGravitas 1y agoThis really has been Fed policy for much, much longer than 20 years. It's been known since the stagflation associated with the 1973 oil crisis that it doesn't really work very well, but it's practically the only lever they have, so they keep using it.
- mcphage 1y agoI mean fair, but then why did it cause wage stagnation back in the 70s and early 80s, and not since?
- infogulch 1y agoWhat do you mean, wage growth has been largely stagnant since the 70's. https://files.epi.org/charts/img/7894.png https://files.epi.org/charts/img/7894.png The mistake in my comment was being too specific.
- mcphage 1y agoThe article claims that wages started growing again in the mid-90s: https://substackcdn.com/image/fetch/w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9224a6ad-ff94-4640-8064-f5ae583e59ae_1840x1240.jpeg https://substackcdn.com/image/fetch/w_1456,c_limit,f_webp,q_... I don't know enough economics to determine which graph is correct—yours or theirs. Or maybe they're measuring slightly different things?