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Women joined the workforce, supply went up, price went down. Toss in globalization (trade), more immigration, automation, and it was inevitable.
by spindritf 13y ago
Women joined the workforce, supply went up, price went down. Toss in globalization (trade), more immigration, automation, and it was inevitable.
- lostlogin 13y agoHow does that explain the rich getting richer? The top 1% got a better raise than that.
- ori_b 13y agoBecause cheaper labor helps people who depend on hired labor to make money. The rich tend to depend on hired labor.
- wisty 13y agoMany countries have seen median salaries increase. It's not really a global phenomenon.
- thatthatis 13y agoYou mean primarily the ones at the lower end of the spectrum who due to globalization are rapidly converging on the salaries of higher end countries? Or are you talking about a subset of developed/g8 nations?
- sigil 13y ago> Women joined the workforce, supply went up, price went down. There's some truth to this. A while back Mother Jones declared the '00s to be a "Lost Decade" because household income had flatlined. [1] However, on page 36 of the same census report cited by that MJ article [2], you can see that real median income earnings (this is after inflation adjustment) of fulltime individual workers increased 2.6% for men and a very significant 8% for women during the '00s. [1] http://motherjones.com/kevin-drum/2009/09/our-lost-decade http://motherjones.com/kevin-drum/2009/09/our-lost-decade [2] http://www.census.gov/prod/2009pubs/p60-236.pdf http://www.census.gov/prod/2009pubs/p60-236.pdf